Disir
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Mexico’s antitrust watchdog has fined seven banks a total of $1.5 million, only 4% of potential penalties, after finding evidence of price-rigging in the peso bond market early last decade, according to documents seen by Bloomberg News.
Deutsche Bank AG, Barclays Plc, Bank of America Corp., Citigroup Inc.’s local unit Citibanamex, Banco Bilbao Vizcaya Argentaria SA, Banco Santander Mexico SA and JPMorgan Chase & Co. were fined a combined 29.4 million pesos out of a potential 680 million, the document showed. Deutsche Bank and Barclays got the two biggest fines at 8.7 million pesos and 6.35 million pesos, respectively.
The ruling, to be published as early as Monday, follows a four-year investigation by antitrust commission Cofece that was aided by a whistle-blower who came forward in May 2015, the documents showed. Investigators said they found evidence in electronic chats from 2010 to 2013 of cartel behavior in the secondary market.
ca.finance.yahoo.com
I wonder if they will actually pay.
Deutsche Bank AG, Barclays Plc, Bank of America Corp., Citigroup Inc.’s local unit Citibanamex, Banco Bilbao Vizcaya Argentaria SA, Banco Santander Mexico SA and JPMorgan Chase & Co. were fined a combined 29.4 million pesos out of a potential 680 million, the document showed. Deutsche Bank and Barclays got the two biggest fines at 8.7 million pesos and 6.35 million pesos, respectively.
The ruling, to be published as early as Monday, follows a four-year investigation by antitrust commission Cofece that was aided by a whistle-blower who came forward in May 2015, the documents showed. Investigators said they found evidence in electronic chats from 2010 to 2013 of cartel behavior in the secondary market.
Seven Banks Escape With Minor Fines in Mexico Antitrust Case
(Bloomberg) -- Mexico’s antitrust watchdog has fined seven banks a total of $1.5 million, only 4% of potential penalties, after finding evidence of price-rigging in the peso bond market early last decade, according to documents seen by Bloomberg News.Deutsche Bank AG, Barclays Plc, Bank of...
I wonder if they will actually pay.
