Linked to an announcement of settlements with a number of firms the European Commission has fined ICAP, a UK based inter-dealer broker, €14.9 million for participating in cartels in relation to Yen interest rate derivatives. The Commission found that ICAP acted as a communications channel between two traders, using its contacts at Japanese Yen London […]

JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) were fined a total of 94 million euros ($120 million) by the European Commission for taking part in cartels in the financial sector. The Commission handed JPMorgan a 61.7-million-euro fine for rigging the Swiss franc Libor benchmark interest rate between March 2008 and July 2009. It was […]