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Foreign exchange market: EU sanctions Credit Suisse and other banks

03/12/2021
Categories: Index/Markets

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At the end of the investigation into the cartel in the spot foreign exchange (Forex) market, the European Union (EU) sanctioned several banks as well as Credit Suisse.

The European Commission has decided to impose a total fine of 261 million euros on the banks Barclays, Royal Bank of Scotland (RBS) and HSBC. It also imposed a financial penalty of 83 million euros on Credit Suisse under the ordinary procedure. UBS received full immunity for disclosing the cartels.

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