Five major banks colluded on UK bonds, antitrust agency says

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Press quote (Bloomberg)
24 May 2023

“In theory, fines could be up to 10% of each bank’s annual global turnover,” said Zach Meyers, a senior research fellow in competition policy at the Centre for European Reform. “Since the collusion only relates to a small part of their businesses, the fines are likely to be considerably smaller.”