Loading...
See More

EU probe targets global banks

Apr 29 2011 13:03
Sapa-AP

Brussels - The European Union's (EU's) competition watchdog says it is investigating the practices of some the world's biggest banks as well as a financial data firm and a clearing house in the market for credit default swaps.

The European Commission says it is probing whether the 16 banks active in the CDS market - including Goldman Sachs, Bank of America and JP Morgan - colluded with Markit to give important data on their activities only to that firm.

In a second case, it is also investigating whether nine of those banks received preferential treatment from ICE Clear Europe, the biggest CDS clearing house in the EU.

The commission says such agreements could have kept other clearing houses from entering the market.

 
jp morgan  |  bank of america  |  goldman sachs  |  eu  |  banks

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...