A PYMNTS Company

EU: RBS one of eight banks in bond cartel probe

 |  February 14, 2019
Royal Bank of Scotland is one of eight banks being probed by European authorities for its possible role in a euro bond trading cartel, Bloomberg reported on Thursday citing a source.

    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.

    The European Commission said in January it was investigating the unidentified banks for a scheme that distorted sovereign bond trading markets from 2007 to 2012.

    The Commission’s powerful antitrust arm said some traders at the eight banks exchanged commercially sensitive information and coordinated trading strategies on euro-denominated bonds, mainly through online chatrooms.

    However, it said the charges did not imply anti-competitive conduct was a general practice in the market.

    Full Content: Bloomberg

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