Lexology PRO | European Union | 2 Dec 2021
The European Commission has fined UBS, Barclays, Royal Bank of Scotland, HSBC and Credit Suisse a total of €344 million as part of a hybrid settlement decision, after traders at the banks unlawfully colluded to share information about foreign-exchange deals.
Lexology PRO | Asia-Pacific, China, Hong Kong, etc. | 22 Nov 2021
Hong Kong’s banking regulator has fined Swiss lender UBS, Commercial Bank of China and two other banks for historic anti-money laundering breaches.
Lexology PRO | European Union, United Kingdom | 15 Jul 2021
The UK judge overseeing two proposed class actions against members of the Forex cartel has laid out his initial concerns about both claimants’ theories of harm.
Lexology PRO | Belgium, European Union | 16 Jun 2021
The European Commission has banned ten banks – including Barclays and Deutsche Bank – from participating in certain bond sales to fund coronavirus recovery due to their previous cartel involvement.
Lexology PRO | Australia, European Union, France, etc. | 2 Jun 2021
A look at new competition rules for big tech giants in Germany, enforcement action over cartel conduct in Australia, a new UK CMA Office and advances for the modernisation of competition law in France – plus other key competition and antitrust updates.
Lexology PRO | European Union | 20 May 2021
The European Commission has fined UBS, Nomura and UniCredit a combined €371 million for illegally exchanging information relating to auctions for European government bonds, although it was unable to sanction four other banks that also participated in the cartel.
PRO Compliance | Canada | 16 Nov 2020
Canada’s ability to prosecute those within the private sector who retaliate against whistleblowers has provided a significant incentive for company executives to protect individuals who report possible misconduct, a Canadian lawyer said at Global Investigation Review's Women in Investigations conference.
PRO Compliance | Central & Eastern Europe, European Union, France, etc. | 28 Oct 2020
Switzerland’s antitrust authority has fined Crédit Agricole and HSBC a total of €6 million for colluding to manipulate the Euro Interbank Offered Rate, while also closing two investigations into NEX International for its suspected role in rigging other benchmark interest rates.
PRO Compliance | United Kingdom, USA | 27 Jul 2020
A UK court has denied UBS’s request to throw out competition law claims filed by a US governmental agency, which accuse the bank of colluding with 11 rivals to manipulate the pound-to-dollar exchange rate.
Squire Patton Boggs | United Kingdom | 27 Mar 2019
The Financial Conduct Authority has imposed a fine of £27,599,400 on UBS AG for breaches of transaction reporting obligations imposed by MiFID (the…