Banks fined £100m after traders shared sensitive information in chat rooms

Staff at the banks discussed sensitive information with each other in chat rooms between 2009 and 2013 (Jonathan Brady/PA) - (PA Archive)

Four banks have been fined more than £100 million after traders shared sensitive information with each other about the British Government debt they were buying and selling.

Traders at the four banks used one-to-one chat rooms to discuss trades in UK Government gilts in the years following the financial crisis, the Competition and Markets Authority (CMA) said.