The banks Crédit Agricole, Bank of America Merrill Lynch and Credit Suisse are fined around DKK 212 million in a cartel case on securities trading.
It informs European Commission , writes Ritzau.
Securities dealers in the four banks exchanged sensitive information and coordinated prices.
Thus, according to Competition Commissioner Margrethe Vestager, they helped to “restrict competition in a market “where, among other things,” pension funds regularly buy and sellbonds on behalf of their investors and pensioners “.
Deutsche Bank, which also participated in the illegal activity, escaped a fine as it was the German bank that uncovered the cartel.
The decision today sends a clear message that The European Commission will not tolerate any kind of secret practice, says Vestager.