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BARC Barclays Plc

202.35
1.35 (0.67%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Barclays Plc LSE:BARC London Ordinary Share GB0031348658 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.35 0.67% 202.35 202.10 202.20 203.40 199.58 202.50 47,820,183 16:35:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 25.38B 5.26B 0.3470 5.83 30.63B

EU Commission Fines Five Banks for Forex Spot Trading Cartel -- Update

02/12/2021 11:43am

Dow Jones News


Barclays (LSE:BARC)
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From May 2021 to May 2024

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   By Giulia Petroni 
 

The European Commission said Thursday that it has fined Barclays PLC, UBS Group AG, HSBC Holdings PLC, Royal Bank of Scotland and Credit Suisse Group AG a total of 344 million euros ($389.6 million) for participating in a foreign-exchange spot trading cartel.

"The Commission's investigation revealed that some traders in charge of the forex spot trading of G10 currencies, acting on behalf of the fined banks, exchanged sensitive information and trading plans, and occasionally coordinated their trading strategies," it said.

UBS received full immunity for revealing the existence of the cartels, while Barclays, RBS and HSBC, which have too decided to settle the case and benefited from reductions, face a total fine of EUR261 million. Credit Suisse has been fined EUR83 million under ordinary procedure, according to the EU.

"Foreign exchange spot trading activities are one of the largest financial markets in the world," said Competition Commissioner Margrethe Vestager. "The collusive behaviour of the five banks undermined the integrity of the financial sector at the expense of the European economy and consumers."

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

December 02, 2021 06:28 ET (11:28 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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