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European Commission fines three investment banks for SSA bonds trading cartel

Published on: 28 April 2021
Published by LNB News

LNB News 28/04/2021

Document Information

Issue Date: 28 April 2021

Published Date: 28 April 2021

Jurisdiction(s): United Kingdom

Article summary

The European Commission has fined Bank of America Merrill Lynch, Crédit Agricole, and Credit Suisse a total of €28,494,000 for participating in a cartel in the secondary trading market within the European Economic Area (EEA) of supra-sovereign, sovereign and agency (SSA) bonds denominated in US dollars, in breach of EU antitrust rules. Deutsche Bank also took part but was not fined as it revealed the existence of the cartel to the Commission.

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