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The E.C. fines Barclays, Citi, JPMorgan, MUFG and RBS over charges their traders engaged in cartels.
The European Commission (EC) stunned the foreign exchange (FX) world with the news yesterday that five major banks — Barclays, the Royal Bank of Scotland (RBS), Citigroup, JPMorgan, and Mitsubishi UFJ Financial Group (MUFG) — have been fined a total of €1.07 billion ($1.19 billion) on charges that they took part in cartels that monopolized...
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