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EU: Antitrust charges against 13 banks dropped

By  |  December 6, 2015

The European Union has dropped charges against 13 banks, including Barclays, HSBC and Royal Bank of Scotland, relating to credit derivatives due to a “lack of evidence”.

This move ends a four year investigation into whether Deutsche Boerse and the Chicago Mercantile Exchange were blocked from entering the credit default swaps market.

Though dropping the investigation, the EC says that it will continue to monitor the market and that its case against Markit and the International Swaps and Derivatives Association will continue.

The remaining ten banks are: Bank of America Merrill Lynch, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and UBS.

Full content: The Telegraph

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