EU fines MUFG, 4 others $1.2 billion over FX cartel

Japan News | May 17, 2019 at 10:36 AM
  • The European Commission said Thursday that it has imposed a total of €1.07 billion ($1.2 billion) in fines on MUFG Bank, and four major British and U.S. banks for taking part in a foreign exchange trading cartel.
  • MUFG Bank, a unit of Mitsubishi UFJ Financial Group Inc., was fined €69.75 million.
  • The other four are British institutions Barclays PLC and The Royal Bank of Scotland, and U.S. giants Citigroup Inc. and JPMorgan Chase & Co.