Skip to content
Subscriber Only

Canada Regulator Says It Has the Power to Probe Libor ‘Cartel’

Canadian antitrust regulators are asserting their authority to investigate alleged interest-rate fixing by banks including JPMorgan Chase & Co. and Royal Bank of Scotland Group Plc, saying the companies formed an “international cartel.”

The nation’s Competition Bureau asked a judge to quash a challenge to its jurisdiction by RBS, according to documents filed by the bureau this week in Ontario Superior Court. RBS obtained an “interim stay” in February on a court order compelling it to turn over records related to the case.