Major banks shared sensitive bonds information in online chats, CMA finds
by Joanna Partridge from on (#6BWH2)
Traders at five banks found to have discussed British government bond trading between 2009 and 2013
The UK's competition watchdog has provisionally found that five major banks broke competition law by unlawfully exchanging sensitive information about British government bond trading in online chatrooms.
In an investigation, the Competition and Markets Authority has found that the banks - Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada - shared competitively sensitive information on pricing and aspects of their trading strategies through multiple one-to-one online chats.
Continue reading...