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Evening Standard
Evening Standard
Business
Jonathan Prynn

Four major City banks fined more than £100 million by watchdog

CMA HSBC Morgan Stanley Royal Bank of Canada Citi Deutsche Bank

Four leading City banks have been fined more than £100 million for unlawfully sharing “competitively sensitive” information about the pricing of Government bonds.

The Competition and Markets Authority (CMA) said Citi, HSBC, Morgan Stanley and Royal Bank of Canada will all pay fines for their behaviour in the market for government bonds known as gilts.

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