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CMA reaches settlement with four banks in sensitive information sharing case

Bank buildings in Canary Wharf, London.
Bank employees had shared sensitive information in a chat group. Photo: Scott Barbour/Getty Images

Four of the banks that were being investigated have agreed to pay fines totalling more than $132m collectively.

The UK’s Competition and Markets Authority (CMA) has announced it has reached settlements in separate cases with four international banks in relation to its investigation into the sharing of sensitive information.

The regulator was looking into allegations that bank employees had unlawfully shared “competitively sensitive'”information about the trading of UK