Nomura, UBS, UniCredit fined over $450 million for ‘cartel’
Posted On: May. 21, 2021 10:21 AM CST
The European Commission has imposed a combined fine of €371 million ($453 million) on UBS Group AG, Nomura Holdings Inc. and UniCredit SpA for participating in a bond-trading cartel and violating antitrust rules during the 2008 global financial crisis, CNBC reported. The EC has named four other investment banks in its trading cartel investigation, including WestLB AG, Royal Bank of Scotland PLC, Natixis SA and the Bank of America Corp. but have not fined them.