{
}
The European Central Bank emphasizes caution regarding banking deregulation, highlighting the risks of instability in the financial sector. Amid calls from European banks for simplified regulations to enhance competitiveness against U.S. counterparts, the ECB remains opposed to any measures that could undermine the resilience of the banking system. The implementation of Basel rules faces delays, with the European Commission set to report on the banking system's state in 2026.
The EU Court has upheld a €172.3 million fine on UBS for its role in a cartel involving the trading of European government bonds, alongside six other banks. While fines for Unicredit and Nomura were slightly reduced, the court confirmed the serious anticompetitive behavior of the banks during a financial crisis. In other news, Google's AI feature is now available in Switzerland, and a 30-employee firm has shut down due to a computer disaster. Additionally, the Federal Court annulled the election of Senator Simon Stocker due to residency issues.
The director of the documentary "Game Over - The Collapse of Credit Suisse," Simon Helbling, revealed he faced significant pressure to not produce the film, which explores the bank's troubled history, including its U.S. expansion and eventual demise. The film highlights critical events, including the 1977 Chiasso scandal and the bank's costly decisions leading to its collapse, ultimately taken over by UBS in 2023. Meanwhile, the EU General Court confirmed a €172 million fine against UBS for cartel activities, and the Federal Court annulled the election of Senator Simon Stocker due to residency issues.
UniCredit, UBS, and Nomura have lost their appeal against a multi-million-euro fine imposed by the European Commission for participating in an illegal cartel involving European government bond trading from 2007 to 2011. The General Court of the European Union upheld the fines, reducing those for Nomura and UniCredit to just under €126 million and €65 million, respectively, while UBS's penalty remains at €172 million. The ruling is not final, and the banks may still appeal.
UBS, Unicredit, and Nomura have failed to overturn a multi-million euro fine imposed by the European Commission for their involvement in a cartel trading European government bonds from 2007 to 2011. The General Court of the European Union upheld UBS's fine at approximately 172 million euros, while slightly reducing the penalties for Nomura and Unicredit to just under 126 million and 65 million euros, respectively. The banks retain the option to appeal the ruling.
Unicredit, UBS, and Nomura have faced a multi-million euro fine from the European Commission for participating in a cartel involving European government bonds from 2007 to 2011. UBS's fine remains at 172 million euros, while Nomura and Unicredit's fines are reduced to approximately 126 million euros and 65 million euros, respectively. Seven banks were implicated, but others avoided penalties by acting as key witnesses.
UniCredit, UBS, and Nomura have failed in their attempt to overturn fines imposed for their involvement in a bond cartel during the financial crisis. The decision underscores the ongoing repercussions of past financial misconduct within the European Union.
UniCredit, UBS, and Nomura have failed in their attempt to overturn fines imposed by the European Union related to a bond cartel from the financial crisis era. The ruling underscores the ongoing scrutiny and consequences faced by major banks for past anti-competitive practices.
Unicredit, UBS, and Nomura have faced a multi-million euro fine from the European Commission for participating in a cartel involving European government bonds from 2007 to 2011. The General Court of the European Union upheld the fines, with UBS facing the largest penalty of 172 million euros, while Nomura and Unicredit received reduced fines of approximately 126 million euros and 65 million euros, respectively. Seven banks were implicated, but others avoided penalties by acting as key witnesses.
The Luxembourg-based General Court upheld fines imposed by the European Commission on three investment banks, reducing UniCredit's penalty from €69.4 million to €65 million and Nomura's from €129.5 million to €125.6 million. UBS's fine of €172.3 million remains unchanged. The case involved seven banks accused of colluding to exchange information on European State bonds from January 2007 to November 2011 to secure better conditions.
ITA
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
European Central Bank warns against banking deregulation amid competitiveness concerns
Euro
United States Dollar
UniCredit S.p.A.
Deutsche Bank Money Market PP
BNP Paribas SA
FRA
ITA
GBR
DEU
USA
Michelle Bowman
Patrick Montagner
Show more
14:34 26.03.2025
eu court upholds 172 million fine on ub s for cartel activities
Swiss Franc
Euro
United States Dollar
ITA
CHE
Simon Helbling
Simon Stocker
Margrethe Vestager
Show more
14:25 26.03.2025
credit suisse documentary reveals pressure and insights into banking collapse
Swiss Franc
Credit Suisse Strategic Income I
ITA
FRA
DEU
CHE
Simon Helbling
Simon Stocker
Tidjane Thiam
Rainer Gut
Arthur Rutishauser
Show more
14:23 26.03.2025
banks lose appeal against eu bond cartel fines with reduced penalties
13:53 26.03.2025
banks face fines for collusion in government bond trading cartel
13:48 26.03.2025
banks face multi-million fines for collusion in government bond trading
13:19 26.03.2025
uniCredit UBS and Nomura fail to overturn EU bond cartel fines
13:07 26.03.2025
banks fail to overturn eu bond cartel fines from crisis era
12:53 26.03.2025
banks face multi-million fines for government bond trading cartel
12:19 26.03.2025
EU court upholds fines for banks in bond trading case
Euro
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
ITA
Show more
11:54 26.03.2025
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
Central Bank Actions
GDP Growth & Recession Forecasts
CEO Changes
Global Trade Developments
Industry Mergers & Acquisitions
Financial Scams and Security
Market Analysis and Predictions
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Supply Chain Management
Domestic Politics
Workplace Trends
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Bank of America Corporation
Barclays PLC
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Credit Suisse Strategic Income I
AXA SA
Safran SA
Banco Santander, S.A.
Novartis AG
Swiss Re AG
Beazley plc
UBS AG
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Canadian Dollar
Australian Dollar
United Arab Emirates Dirham
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Hong Kong Dollar
Mexican Peso
Indonesian Rupiah
Malaysian Ringgit
Vietnamese Đồng
People: