‘Sterling Lads’ Forex Fix Earns Banks $390 Million in Fines
- EU fined HSBC, Credit Suisse, RBS, Barclays over cartel roles
- Trader chatroom was used to fix forex prices, says EU
Photographer: Laurie Dieffembacq/AFP/Getty Images
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HSBC Holdings Plc, Credit Suisse Group AG, Barclays Plc, and Royal Bank of Scotland Group Plc were fined 344 million euros ($390 million) by the European Commission for their involvement in a foreign-exchange price fixing cartel.