UBS, Credit Suisse Group AG and Royal Bank of Scotland are being investigated by EU antitrust regulators for suspected rigging of interest rates linked to the Swiss franc, a person familiar with the matter said on Wednesday. The European Commission has been looking into the case for about a year now as part of its investigation into the fixing of lending benchmarks.The source said there were other banks involved. It was not immediately clear which other financial institutions are under investigation.The EU competition watchdog slapped a record 1.7 billion euro fine on five banks - Deutsche Bank, RBS, JP Morgan, Citigroup, Societe Generale - and UK-based broker RP Martin last month for rigging other benchmarks.
Credit Suisse Group AG is a Switzerland-based holding company engaged in private banking, investment banking and asset management areas. Shares of CS fell by 0.34% or $-0.11/share to $32.05. In the past year, the shares have traded as low as $24.84 and as high as $33.98. On average, 1006780 shares of CS exchange hands on a given day and today's volume is recorded at 527036.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI fell by 0.22% or $-0.05/share to $22.45. In the past year, the shares have traded as low as $17.92 and as high as $26.59. On average, 26903 shares of FISI exchange hands on a given day and today's volume is recorded at 37503.
Source
