For four years after the financial crisis bank staff were sharing information about the Government debt they were buying and selling, regulators said.
The Competition and Markets Authority (CMA) fined four banks, including HSBC and Citi, a total of £104.46 million for sharing sensitive information via chat rooms between 2009 and 2013. Deutsche Bank received immunity for reporting the conduct. The fines were reduced due to settlements, and the banks implemented measures to prevent future issues.
