The European Commission found on Thursday 20 May that Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) had breached EU antitrust rules through the participation of a group of traders in a cartel in the primary and secondary market for European Government Bonds (‘EGB’).
Nomura (€129.5 million), UBS (€172.4 million) and UniCredit (€69.4 million) were fined. NatWest escapes this, as it revealed the cartel. Bank of America and Natixis...