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Industry digests big fines for four banks over exchanges of sensitive information on gilts

Office worker in front of multiple screens including Bloomberg terminal
Photo: Getty Images

Citi, HSBC, Morgan Stanley and Royal Bank of Canada agree to settle cases and will pay over £100m ($126.2m).

Deutsche Bank was also subject to the probe but received immunity under the UK CMA’s leniency policy for alerting the regulator to its participation in the information sharing, as we reported last week.

A small number of traders from the five banks utilized private one-to-one Bloomberg chatrooms to share