UK Competition Watchdog Finds Five Banks Broke Law in Gilt Market Trading
TL;DR
The UK competition watchdog has provisionally found that five banks broke the law in the gilt market. The banks are Barclays, NatWest, JP Morgan, Citi and MUFG. The watchdog alleges that the banks shared information about the prices they were willing to pay and receive for government bonds, which is against competition law.
- Live news: UK competition watchdog provisionally finds five banks broke law in gilt market Financial Times
- HSBC, Citi, Deutsche Bank, Morgan Stanley and RBC traders broke competition law, watchdog finds Reuters
- Bank bombshell: Competition watchdog finds traders at five banks shared intel on UK bond sales City A.M.
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