Despite its involvement, NatWest was not fined as it revealed the cartel, while Bank of America, Natixis and Portigon also evaded penalties.
Tag: European Commission
Bank of America, Credit Suisse and Credit Agricole fined €28 million for role in bond trading cartel
Deutsche Bank blew the whistle on the cartel and so was not fined alongside Bank of America, Credit Agricole and Credit Suisse despite having traders active in the scheme.
The agreement follows months of stalemate in discussions between the two entities regarding UK-EU equivalence across the financial markets.
Research unbundling and best execution reporting requirements are at the heart of the European Commission’s COVID-19 relief plan.
The pan-European exchange has subsequently reshuffled the leadership of its Paris business in preparation for the completion of the deal.
As the consultation period for Europe’s Settlement Discipline Regime concludes, industry associations again step up calls for the removal of mandatory buy-ins.
The EU regulator has adopted an equivalence decision that determines US CCPs under the Securities and Exchange Commission regime as equivalent to EU rules.
The EU regulator has set out plans to carry out a further review of MiFID and MiFIR in 2021 which will include the design and implementation of a consolidated tape.
The European Commission’s approval under the EU Merger Regulation takes the London Stock Exchange Group one step closer to its mammoth $27 billion Refinitiv take-over.
The majority of industry bodies and market participants will most likely focus their feedback on the settlement penalties and the buy-in components of CSDR.