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Stefan Walter, Switzerland’s financial regulator known as “The Sheriff,” is challenging the banking elite, particularly UBS, by advocating for stringent capital requirements following the Credit Suisse collapse. His push could impose up to $25 billion in new capital demands on UBS, which argues this is an overreaction. Walter's assertive approach is disrupting the previously cozy relationship between Swiss banks and their regulator.
Unicredit, UBS, and Nomura have faced a multi-million euro fine from the European Commission for participating in a cartel in European government bond trading 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 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. 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.
UBS, Unicredit, and Nomura have faced a multi-million euro fine for colluding on government bond prices during the financial crisis. The European Commission confirmed UBS's fine at approximately 172 million euros, while penalties for Unicredit and Nomura were slightly reduced to just under 65 million and 126 million euros, respectively. Seven banks were involved in the cartel, but some escaped penalties due to their roles as key witnesses.
The General Court of the European Union upheld the European Commission's 2021 decision regarding a cartel among seven major investment banks in the European government bonds sector, confirming that their collusion undermined competition. While fines for Nomura and Unicredit were slightly reduced due to errors in the Commission's calculations, UBS's fine remains unchanged. Other banks escaped penalties due to various reasons, including expired statutes of limitations and self-reporting.
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.
The EU's general court upheld fines against UBS, Nomura, and UniCredit for their roles in a government-bonds cartel, totaling 371 million euros. The court confirmed a continuous antitrust violation involving the sharing of sensitive information among traders from 2007 to 2011. While fines for Nomura and UniCredit were slightly reduced, the banks retain the option to appeal to the EU's highest court.
The European General Court has upheld the European Commission's antitrust fines against UBS, Nomura, and UniCredit for their roles in a European sovereign bond cartel, totaling €371 million. The court confirmed that the banks engaged in price fixing and exchanged sensitive information through Bloomberg chatrooms from 2007 to 2011. While the penalties for Nomura and UniCredit were slightly reduced, they retain the option to appeal to the European Court of Justice.
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.
The EU's General Court has upheld a €172.4 million antitrust fine against UBS for its role in a bond trading cartel, while slightly reducing fines for UniCredit and Nomura. The total fines imposed by the European Commission on the three banks amounted to €371 million. Other banks involved, such as NatWest and Bank of America, were not fined for various reasons, including NatWest's initiation of the proceedings.
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swiss regulator challenges banking elite amid rising capital requirements for UBS
Swiss Franc
United States Dollar
Julius Bär Gruppe AG
UBS Group AG
DEU
CHE
Stefan Walter
Karin Keller-Sutter
13:41 26.03.2025
banks face fines for involvement in government bond trading cartel
13:20 26.03.2025
banks face multi-million fines for collusion in government bond trading
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banks face fines for colluding on government bond prices during crisis
13:14 26.03.2025
eu court reduces fines for nomura and unicredit in bond cartel case
13:09 26.03.2025
uniCredit UBS and Nomura fail to overturn EU bond cartel fines
13:07 26.03.2025
eu court upholds cartel fines for banks with slight reductions
13:07 26.03.2025
eu court upholds antitrust fines for banks with slight reductions
13:05 26.03.2025
banks fail to overturn eu bond cartel fines from crisis era
12:53 26.03.2025
eu court upholds fine against ubs in bond cartel case
Euro
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
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Foo Yun Chee
Myria Mildenberger
Paul Arnold
Ariane Lüthi
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12:47 26.03.2025
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