UBS says EU fine could cost $100 mln in Q2
20/05/2021 11:20
BERLIN, May 20 (Reuters) - UBS UBSG.S said a fine imposed
on it by the European Commission for anti-competitive behaviour
would have an impact of about $100 million on its second-quarter
results, adding that it was considering an appeal.
EU antitrust regulators on Thursday fined Nomura 9716.T ,
UBS and UniCredit CRDI.MI a total of 371 million euros ($452
million) for taking part in a European governments bonds trading
cartel. urn:newsml:reuters.com:*:nL5N2N731J
"This is a legacy issue dating back to 2007-2011 and we have
taken appropriate action years ago to mitigate and improve
processes," UBS said. "We note the European Commission's
decision on this matter and are considering an appeal."
(Reporting by Oliver Hirt
Writing by Thomas Escritt
Editing by Riham Alkousaa)
((thomas.escritt@thomsonreuters.com; +49 30 2888 5217;))