- Eight banks face EU probe for possible market collusion Archived Message
- Europe concerned passport sales to oligarchs are fuelling money laundering - Gerard January 31, 2019, 12:38 pm
Posted by Gerard
on January 31, 2019, 3:29 pm, in reply to "Europe concerned passport sales to oligarchs are fuelling money laundering"
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"The European Commission is investigating eight banks for possible collusion in the market for European government bonds. The EU's competition watchdog has informed the unnamed banks of its preliminary view that they breached anti-trust rules by colluding to distort competition while trading European government bonds (EGBs) from 2007 to 2012. The commission said its investigation is focusing on certain traders at the eight banks and does not imply anti-competitive conduct as a general practice in the EGBs sector. The agency said it has written to the banks, issuing what is known in EU circles as a "statement of objections" - a formal step in the commission's investigations into suspected violations of EU anti-trust rules. If the EC's preliminary view is confirmed, such behaviour would violate EU rules that prohibit anti-competitive business practices such as collusion on prices. The banks will now be invited to examine the documents in the commission's investigation file, respond to the findings in writing and request an oral hearing before the commission and national competition authorities to present their case. If after such a hearing the commission concludes that there is sufficient evidence of a breach, it can impose a fine of up to 10% of a company's annual worldwide turnover." https://news.sky.com/story/eight-banks-face-eu-probe-for-possible-market-collusion-11623595?dcmp=snt-sf-twitter |
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