Deals
Banks Escape Antitrust Charges as EU Shuts Down Swaps Probe
- Case opened in 2011 with naming of 13 bank involved in probe
- Banks accused of colluding to keep competitors out of market
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More than a dozen banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. will escape fines after European Union regulators dropped a four-year investigation into suspicions they conspired to shut exchanges out of the credit-default swaps market.
The European Commission said evidence "was not sufficiently conclusive to confirm" its concerns, according to a statement on its website Friday. It will keep investigating data provider Markit Group Ltd. and the International Swaps and Derivatives Association.