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Icap gets EUR6.45 million EU fine after re-adopted cartel decision

( May 28, 2021, 11:00 GMT | Official Statement) -- MLex Summary: Interdealer broker ICAP has been fined 6.45 million euros, the European Commission said today as it announced its readopted decision related to the broker's role in cartels in the yen interest rate derivatives trading market. The decision, which corrects a procedural error and sets out a detailed reasoning on the calculation of the fine, levies sanctions on three ICAP entities for having taken part in five cartel breaches. In 2017, the EU's first tier court annulled one out of the six infringements, shortening also the duration of four infringements. It also annulled the fines imposed for inadequate reasoning.Statement follows. ...

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