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 for Economic Defense, or CADE,

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