Antitrust Antitrust

Banks can’t mount ‘pass-on’ defense against funds’ forex-cartel claim, UK appeal judges rule

By Simon Zekaria
  • 23 Mar 2022 14:13
  • 23 Mar 2022 14:13
JPMorgan Chase, Barclays and other banks can't argue that financial losses allegedly suffered by a group of funds as a result of a foreign-exchange trading cartel were mitigated by being passed on to investors, UK judges said today.
The ruling in the Court of Appeal handed a win to Allianz

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Simon Zekaria

Senior Correspondent

Simon Zekaria is a senior correspondent in London, covering UK regulation. Prior to joining MLex, Simon reported on business news for The Wall Street Journal, including on telecommunications, media, technology and consumer affairs. Simon was also a writer for the WSJ on diverse subjects such as Brexit, UK politics and global sport. Simon was previously a correspondent on competition issues and European politics for Thomson Reuters and Agence France-Presse in Brussels. Simon is a graduate of Edinburgh University, with Masters degrees in literature and law. A French speaker, he has studied at the Sorbonne University, Paris.

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