Citi, HSBC, Morgan Stanley and RBC fined 100m after traders revealed sensitive information - London Business News | Londonlovesbusiness.com
Briefly

Citi, HSBC, Morgan Stanley, and the Royal Bank of Canada have received substantial fines totaling £100 million for sharing insider information regarding UK bonds. The whistleblower, Deutsche Bank, received immunity, underscoring the significance of the incident, which dates back to 2009 and 2013. Juliette Enser from the CMA highlighted that adherence to competition laws is crucial for maintaining confidence in financial markets. The particular penalties issued reflect both the infractions committed and the banks' efforts to rectify their protocols to avoid future violations.
Banking giants Barclays, Citi, HSBC, Morgan Stanley and Royal Bank of Canada faced £100m fines for sharing insider information on UK bonds.
This incident highlights the importance of compliance within financial services to maintain investor confidence in the economy.
Read at London Business News | Londonlovesbusiness.com
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