7 banks under investigation by Swiss regulator

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The Swiss Competition Commission has started investigating seven banks, including UBS and Julius Baer, for possible price-fixing in precious metals trading.

Bloomberg News reports that UBS, Deutsche Bank, HSBC Holdings, Barclays, Morgan Stanley, Julius Baer, and a unit of Tokyo-based trading company Mitsui & Co. Ltd. are part of the probe, which was opened in February, the Competition Commission said in a statement Monday.

European Union antitrust regulators in August disclosed they are investigating precious-metals trading, specifically anti-competitive behavior in spot trading, following a U.S. probe that embroiled some of the same banks.

To access the complete Bloomberg News article hit the link below:

Swiss Competition Body Probes Banks in Precious Metals Trading

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