HSBC, JPMorgan may be fined over rate rigging

03/13/2014 | Bloomberg

HSBC Holdings and JPMorgan Chase may be fined by the European Union's antitrust authority over their refusal, along with two other parties, to join settlements over rigging of Euribor and Libor, sources say. The effort to impose fines is reportedly driven by antitrust chief Joaquin Almunia, who will leave office later in the year and wants "to end on a high note," said Pierre-Henri Conac, a professor specializing in banking at the University of Luxembourg.

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