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UBS, Credit Suisse get forex cartel fine reduced in EU court appeal

By Lewis Crofts ( July 23, 2025, 07:58 GMT | Insight) -- Credit Suisse, now owned by UBS, has seen its 83 million-euro fine for its role in a foreign-exchange related cartel reduced to 28.9 million euros, given errors made by the European Commission in calculating the sanction. The EU’s lower-tier court ruled this morning that information exchanged between traders amounted to a cartel, but the regulator had failed to use a correct proxy for the “value of sales” when establishing the penalty.Credit Suisse, now owned by UBS, has seen its 83 million-euro (around $97 million) fine for its role in a foreign-exchange related cartel reduced to 28.9 million euros, given errors made by the European Commission in calculating the sanction....

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