The European Commission decided, on Wednesday 28 April, to fine Bank of America Merrill Lynch, Crédit Agricole and Crédit Suisse €28.49 million for breaching EU antitrust rules and for abuse of a dominant position. Deutsche Bank was not fined as it revealed the existence of the cartel to the Commission.
The four banks took part in a cartel in the secondary trading market within the European Economic Area of Supra-sovereign, Sovereign and Agency (SSA) bonds denominated in US Dollars.
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