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EU readying big bank fines

Nov. 16, 2016 3:30 AM ETHSBC Holdings plc (HSBC) StockJPM, HSBC, CRARY, CRARFBy: Yoel Minkoff, SA News Editor13 Comments
  • EU antitrust regulators are set to fine HSBC, JPMorgan (NYSE:JPM) and Credit Agricole (OTCPK:CRARY) by the end of the year for rigging financial benchmarks linked to the euro, Reuters reports.
  • Charges were levied in May 2014 against the three banks, which denied wrongdoing.
  • Deutsche Bank, RBS and Societe Generale admitted guilt in December 2013, while Barclays avoided a fine because it alerted the European Commission.

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