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UBS, Crédit Agricole decline further EU court battle over bond cartel fines

By Lewis Crofts ( January 28, 2025, 16:30 GMT | Insight) -- Credit Suisse (now part of UBS) and Crédit Agricole have put an end to their fight against almost 16 million euros in fines levied for their part in a cartel related to collusion on bond markets, turning down the chance to file a final appeal at the EU’s Court of Justice. In November, the banks lost an initial appeal and they had until late January to file further challenges at the bloc’s highest court. But the deadline has passed with no follow-up litigation, MLex has learned.Credit Suisse (now part of UBS) and Crédit Agricole have turned down the chance to file a final appeal at the EU’s Court of Justice. This means their fight against almost 16 million euros (around $18 million) in fines levied for their part in a cartel related to collusion on bond markets has come to an end....

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