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 million) by the

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