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EU court confirms fines for banks, 65 mn to UniCredit

The Luxembourg-based General Court on Wednesday confirmed fines issued by the European Commission against three investment banks, trimming the final sum for UniCredit from 69.4 to 65 million and Nomura, from 129.5 to 125.6 million.

The 172.3 million euros fine for UBS remained unvaried.

The case concerned seven lenders - UBS, Natixis, UniCredit, Nomura, Bank of America and Portigon as well as NatWest - which according to the EU executive, from January 2007 until November 2011, agreed to exchange information ahead of operations on European State bonds to obtain advantageous conditions.

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