Antitrust Antitrust

Banks didn't and couldn't use 'tacit coordination' to rig forex prices, MUFG tells UK judge

By Simon Zekaria
  • 15 Jul 2021 12:06
  • 15 Jul 2021 12:06
Japanese bank Mitsubishi UFJ Financial Group told a UK judge today that a mass antitrust claimant is wrong to allege that it and its peers were motivated to engage in widespread "tacit coordination" of foreign-exchange currency pricing.
MUFG — formerly Bank of Tokyo-Mitsubishi — was fined nearly 70 million euros ($83

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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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