{
}
Unicredit, UBS, and Nomura have faced a multi-million euro fine for participating in a cartel related to European government bond trading from 2007 to 2011. The European Commission upheld the fines, with UBS facing the largest at 172 million euros, while Nomura and Unicredit received reduced penalties of approximately 126 million euros and 65 million euros, respectively. Seven banks were implicated, but others avoided fines by cooperating as key witnesses.
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 Court of Justice of the European Union has upheld fines against Unicredit, Nomura, and UBS for their involvement in a cartel in the European government bond sector from 2007 to 2011. The total fines amount to 371 million euros, with Unicredit's fine reduced from 69.4 million to 65 million euros, and Nomura's from 129.5 million to 125.6 million euros, while UBS's fine of 172.3 million euros remains unchanged. Other banks involved, including Bank of America and Natixis, faced no fines due to time limitations or whistleblower status.
The EU General Court has upheld fines totaling €172.3 million on UBS and reduced penalties for Unicredit and Nomura in a cartel case involving the trading of European government bonds. The court confirmed the banks' collusion harmed competition, particularly during the financial crisis, with EU Vice President Margrethe Vestager condemning their actions as unacceptable. NatWest was exempt from fines for disclosing the misconduct, while other banks faced varying outcomes due to statute limitations and lack of sales.
UBS has been ordered to pay a full EU fine of 172.4 million euros for its role in a bond trading cartel, as confirmed by Europe's second-highest court. While the fines for Italian UniCredit and Japanese Nomura were reduced, UBS's appeal was unsuccessful, maintaining the original penalty. The European Commission had initially imposed a total of 371 million euros in fines on the three banks involved.
The Court of Justice of the European Union upheld €371 million in fines against Nomura, UBS, and UniCredit for their involvement in a cartel manipulating the European government bonds market from 2007 to 2011. While fines for Nomura and UniCredit were slightly reduced, the court confirmed the European Commission's ruling, emphasizing the cartel's detrimental impact on competition. Bank of America, Natixis, and NatWest escaped penalties due to legal time limits or cooperation, while Portigon's fine was eliminated due to financial losses.
The EU General Court has upheld fines against Unicredit, Nomura, and UBS for their involvement in a cartel related to European government bond transactions from January 2007 to November 2011. Unicredit's fine was reduced from €69.4 million to €65 million, and Nomura's from €129.5 million to €125.6 million, while UBS's fine remains at €172.3 million. The case also involved other institutions, including Natixis, Bank of America, and NatWest.
UBS, UniCredit, and Nomura faced setbacks in court regarding an EU antitrust fine linked to a bond cartel, with UBS's fine of €172.4 million upheld. The Luxembourg court confirmed the European Commission's findings while slightly reducing fines for UniCredit and Nomura. The cartel operated from 2007 to 2011, involving traders sharing sensitive information in chat rooms.
UBS, UniCredit, and Nomura faced setbacks in court regarding an EU antitrust fine linked to a bond cartel that operated from 2007 to 2011. UBS's fine of €172.4 million was upheld, while UniCredit and Nomura saw their fines slightly reduced to €65 million and €125.6 million, respectively. The court confirmed the banks' responsibility for their traders' anti-competitive actions, while Bank of America and Natixis avoided fines due to timing issues.
Charlie Javice's trial closings are set for Wednesday in a $175 million fraud case against JPMorgan. A key word is expected to play a significant role in the proceedings.
Anti-Money Laundering (AML) Regulations
SubCategory
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
banks face fines for cartel in government bond trading
12:19 26.03.2025
banks face multi-million fines for government bond trading cartel
12:19 26.03.2025
court upholds fines for unicredit nomura and ubs in cartel case
12:04 26.03.2025
eu court upholds fines on ubs and other banks for cartel activities
Euro
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
CHE
Margrethe Vestager
Show more
12:01 26.03.2025
ubs faces full eu fine in bond trading cartel case
11:08 26.03.2025
eu court upholds fines for banks in government bonds cartel
10:52 26.03.2025
EU court confirms fines for banks in government bond cartel case
10:50 26.03.2025
banks lose court challenge against eu bond cartel fines
Euro
Bank of America Corporation
UBS Group AG
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
Show more
10:36 26.03.2025
banks lose court appeal against eu bond cartel fines
Euro
United States Dollar
Bank of America Corporation
UBS Group AG
UniCredit S.p.A.
NatWest Group plc
Foo Yun Chee
Jane Merriman
Show more
10:36 26.03.2025
charlie javice trial closing arguments in jpmorgan fraud case set for wednesday
10:06 26.03.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Domestic Politics
Retail and Consumer Goods
CEO Changes
Global Trade Developments
Startups & Entrepreneurship
Government Policies
Market Analysis and Predictions
Workplace Trends
Central Bank Actions
Elections & Campaigns
Government Economic Policies
Supply Chain Management
Corporate Social Responsibility
Countries:
Companies:
Tesla, Inc.
JPMorgan Chase & Co.
Apple Inc.
UniCredit S.p.A.
Deutsche Bank Money Market PP
Banco BPM S.p.A.
Barclays PLC
Credit Suisse Strategic Income I
CREDIT AGRICOLE
BNP Paribas SA
SpaceXCoin USD
Amazon.com, Inc.
Lloyds Banking Group plc
UBS Group AG
The Goldman Sachs Group, Inc.
Banco Santander, S.A.
Credit Agricole
Berkshire Hathaway Inc.
Reinsurance Group of America, Incorporated
Google Inc.
Currencies:
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Chinese Yuan
Japanese Yen
Indian Rupee
South Korean Won
Canadian Dollar
Offshore Chinese Yuan
Hong Kong Dollar
Singapore Dollar
Vietnamese Đồng
Australian Dollar
Mexican Peso
Norwegian Krone
Filipino Peso
Indonesian Rupiah
Thai Baht
Danish Krone
People: