GENEVA: Citigroup Inc and Barclays Plc are among global banks fined a total of 90 million Swiss francs (US$91mil) by Switzerland’s competition regulator for their roles in colluding on foreign-exchange rates.
Barclays was fined 27 million francs, Citigroup 28.5 million francs and JPMorgan Chase & Co was hit with a 9.5 million-franc penalty, Switzerland’s Competition Commission said yesterday. UBS Group AG avoided a fine because it helped reveal the existence of the cartel.
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