Antitrust Antitrust

Citibank, Société Générale agree to pay 76.5 million reais ($14.7 million) to settle Brazilian forex cartel probe

By Ana Paula Candil
  • 22 Jun 2022 21:40
  • 22 Jun 2022 21:57
Citibank and Société Générale have agreed to pay a total of 76.5 million reais ($14.7 million) to settle a Brazilian cartel investigation into foreign exchange operations involving onshore currency.
Citibank has agreed to pay 71 million reais, and Société Générale 5.5 million reais.

The Tribunal of the Administrative Council

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Ana Paula Candil

Senior Correspondent, Latin America


Ana Paula joined MLex in Brazil in 2014 writing about antitrust investigations and merger reviews. Prior to that, she worked for several trade publications and in TV. She lived in Washington DC, where she worked for Al Jazeera English in 2010. She studied journalism and holds a postgraduate diploma in International Business Management from the George Brown College in Toronto and a Master of Business Administration diploma in government relations from Fundação Getúlio Vargas (FGV).

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