Comment on E.U. is Fining JP Morgan, HSBC and Credit Agricole $520 Million Over Market Rigging

E.U. is Fining JP Morgan, HSBC and Credit Agricole $520 Million Over Market Rigging

European Union regulators have fined banks JPMorgan, HSBC and Credit Agricole a combined $520 million for colluding to manipulate the price of financial products linked to interest rates. E.U. antitrust Commissioner Margrethe Vestager said the banks illegally exchanged sensitive information and colluded to take profit in the market on the specialized financial products.

 

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