Deutsche Bank Avoids EU Fine Over Euro-bond Trading Cartel With Rabobank
22 Noviembre 2023 - 6:01AM
Noticias Dow Jones
By Ian Walker
Deutsche Bank has avoided a 156 million Euro ($170.2 million)
fine from European Union authorities after revealing its part in a
Euro-bond trading cartel with Rabobank.
The European Commission--the EU's executive arm and its
antitrust enforcer--said that the German bank wasn't fined under
its leniency program for informing them of the cartel's
existence.
However, Rabobank has been fined EUR26.6 million for its part in
the cartel, the Commission said.
The Commission said that between 2006 and 2016 the two banks,
through some of their traders, exchanged commercially sensitive
information and coordinated their trading and pricing
strategies.
Under the European Commission's leniency program, a participant
in a cartel can avoid a fine, or get a large discount, for
disclosing being part of one, and co-operating in an
investigation.
Neither Deutsche Bank or Rabobank immediately responded when
approached by Dow Jones Newswires for comment.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
November 22, 2023 06:46 ET (11:46 GMT)
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