Citigroup (C), HSBC (HSBC), Morgan Stanley (MS), and Royal Bank of Canada (RY) have been ordered to pay a total of 104.5 million British pounds ($132.3 million) in fines by April 22 to settle accusations of traders inappropriately sharing competitively sensitive information about the pricing of UK bonds, the Competition and Markets Authority said on Friday.
The information sharing took place in communications among traders about the buying and selling of UK debt instruments called gilts between 2009 and 2013, the Competition and Markets Authority said. The banks have since implemented compliance measures to prevent such behavior, the regulator added.
According to the regulator, Citi will pay 17.2 million pounds, HSBC 23.4 million pounds, Morgan Stanley 29.7 million pounds, and Royal Bank of Canada 34.2 million.
The banks did not immediately reply to MT Newswires' requests for comment.
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