Brussels — UBS, Nomura and UniCredit were fined a total of €371m by the EU for colluding on euro government bond trading during the region’s sovereign debt crisis.
The EU has spent more than a decade probing how bank traders swapped information in chat rooms, leading to billions of euros in fines. At the same time it approved billions of euros in government support to keep many European lenders alive during the financial crisis. Nomura said the fine “relates to historic behaviour” by two former employees “for an approximate 10-month period in 2011.” The bank “will consider all options, including an appeal” and “has introduced increased measures to ensure that we conduct our business with the highest levels of integrity,” it said in an e-mailed statement
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