EU Court Upholds Fines for Banks, UniCredit’s Reduced to 65 Million

Luxembourg: The Luxembourg-based General Court has upheld fines imposed by the European Commission on three investment banks, adjusting the penalties for UniCredit and Nomura. UniCredit’s fine has been reduced from 69.4 million euros to 65 million euros, while Nomura’s penalty has been decreased from 129.5 million euros to 125.6 million euros.

According to Ansa News Agency, the fine for UBS remains unchanged at 172.3 million euros. The case involved seven financial institutions, including UBS, Natixis, UniCredit, Nomura, Bank of America, Portigon, and NatWest. The European Commission accused these banks of exchanging information from January 2007 to November 2011 before engaging in operations on European State bonds, aiming to secure favorable conditions.