EU fines $ 390 million in fines on 4 banks in currency trading cartel
“The collusive behavior of the five banks has undermined the integrity of the financial sector to the detriment of the European economy and consumers,” said the vice-chairman of the committee.
The commission said in a statement that several spot foreign exchange traders “exchange sensitive information and trading plans, and sometimes coordinate their trading strategies through a professional online chat room called Sterling Lads.”
Because he revealed the cartel,
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