New sanctions in the derivatives scandal. At the conclusion of the investigations into the manipulation of Libor, Euribor and the yen rate, the European Commission has decided to punish 8 international financial institutions with a fine of 1,712 billion euros, a record figure for the European Union, for participating in illegal cartels in the derivatives markets.
Among the banks involved Barclays, Deutsche Bank, Societé Generale, Rbs, Ubs, JPMorgan, Citigroup and the broker RP Martin. Barclays and UBS were exempt from the fine for cooperating.
