© Reuters. The emblem for Citibank is seen on the buying and selling ground on the New York Inventory Change (NYSE) in Manhattan, New York Metropolis, U.S., August 3, 2021. REUTERS/Andrew Kelly
SAO PAULO (Reuters) – (This June 22 story corrects headline and first paragraph to point out that the fee is a settlement between the banks and Brazil’s watchdog, not a superb; provides Citibank assertion that it has not been discovered or admitted to any fallacious doing)
Brazil’s antitrust watchdog stated on Wednesday it reached an settlement with the Brazilian items of Citibank and Société Générale (EPA:) to settle a case associated to an alternate fee manipulation investigation dated nearly a decade in the past.
Citibank has dedicated to pay 71.6 million reais ($13.78 million) and Société can pay 5.57 million reais ($1.07 million), the watchdog Cade stated.
Cade stated there was proof relationship again to 2016 of the banks value fixing their forex spreads, and coordinating the acquisition and sale of currencies involving the Brazilian actual.
Citigroup (NYSE:) stated in an announcement that the settlement is just not a superb and the financial institution has not been discovered or admitted to any fallacious doing. It added that the settlement shall not, in response to regulation, be mistaken with any ruling or deserves of the case.
($1 = 5.1945 reais)