EU Accuses 8 Banks Of Running Sovereign Bond Cartel

Law360, London (January 31, 2019, 6:14 PM GMT) -- The European Commission on Thursday tentatively accused eight banks of breaching antitrust rules by rigging government bond prices over five years, as it widened its probe into suspected cartels in fixed-income markets.

The European Commission on Thursday announced a preliminary finding that eight unnamed banks colluded when buying and trading European sovereign bonds. (AP)

The European Union’s competition enforcer announced its “preliminary view” that the unidentified banks breached EU rules by colluding to distort competition when buying and trading European sovereign bonds between 2007 and 2012.

“Traders employed by the banks exchanged commercially sensitive information and coordinated on trading strategies,” the...

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