A PYMNTS Company

EU: Antitrust regulators investigate precious metals trading

By  |  August 30, 2015
EU: Antitrust regulators investigate precious metals trading

The European Commission disclosed the probe after HSBC Holdings said in a filing earlier this month that it had received a request for information from the EU in April. “The commission is currently investigating alleged anti-competitive behaviour in precious metals spot trading” in Europe, Ricardo Cardoso, a spokesman for the regulator, said yesterday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    HSBC said in its half-year earnings report on August 3 that the commission had sought details about its precious-metals operations and that it’s “cooperating with the authorities”.

    US prosecutors have been examining whether at least 10 banks, including Barclays, JPMorgan Chase & Co and Deutsche Bank, manipulated prices of precious metals such as silver and gold.

    Full content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.