Citigroup hit hardest as EU fines banks €1.1 billion in FX probe

Luxembourg Times | May 16, 2019 at 1:39 PM
  • Citigroup, Royal Bank of Scotland and JPMorgan are among five banks that agreed to pay European Union fines totalling €1.07 billion for colluding on foreign-exchange trading strategies.
  • Barclays was fined €210.3 million and Mitsubishi UFJ Financial Group  must pay nearly €70 million as part of the settlement with the EU’s antitrust regulator.
  • Traders exchanged information about outstanding customers’ orders, bid-ask spreads, their open-risk positions and details of current or planned trading activities.