On July 28 in the US District Court in Manhattan, preliminary settlements were filed as Morgan Stanley, Royal Bank of Canada, Societe Generale, Standard Chartered Plc and Bank of Tokyo-Mitsubishi UFJ settle claims accusing them of having manipulated the foreign exchange market.
Friday’s settlements still need a judge’s approval, but if approved mean that 14 of the 16 banks sued have settled the claims.
The settlements amounted to US$50 million for Morgan Stanley, US$15.5 million for RBC, US$18 million for Societe Generale, US$17.2 million for Standard Chartered and US$10.5 million for Bank of Tokyo for a total of US$111.2 million.
As with previous settlements, the banks deny all allegations of wrongdoing.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Business Secretary Calls for More Agile Competition Regulator
Feb 13, 2025 by
CPI
Germany’s Antitrust Regulator Raises Concerns Over Apple’s App Tracking Policies
Feb 13, 2025 by
CPI
$60 Billion Nissan-Honda Merger Falls Apart
Feb 13, 2025 by
CPI
DOJ Moves to End Protections for Three Regulatory Agencies
Feb 13, 2025 by
CPI
Meta to Allow Rivals to List Ads on Facebook Marketplace Following EU Fine
Feb 13, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon