Brazil’s antitrust regulator named 30 people it’s investigating as part of a civil probe into anticompetitive practices in the currency market.
Bloomberg News reports that if found to have violated the law, the individuals each may face penalties of as much as $632m, Cade, as the agency is known, said in a July 1 document posted on its website.
Banks they work for, which were named in a statement last week, may be fined as much as 20% of the revenue from operations involved in the transactions, which took place from 2007 to 2013, according to the agency.
Many of the 30 names listed on the agency’s website correspond to those of traders identified in previous probes of the currency market. Cade didn’t say in the document what any of the people is alleged to have done.
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