EU fines six financial institutions record 1.7 billion euros
BRUSSELS (Reuters) - EU antitrust regulators fined six financial institutions including Deutsche Bank , Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros (1.4 billion pounds) on Wednesday for rigging financial benchmarks.
The other banks penalised are Societe Generale , JPMorgan and broker RP Martin.
"What is shocking about the LIBOR and EURIBOR scandals is not only the manipulation of benchmarks, which is being tackled by financial regulators worldwide, but also the collusion between banks who are supposed to be competing with each other," EU Competition Commissioner Joaquin Almunia said in a statement.
Deutsche Bank received the biggest fine of 725.36 million euros.
The European Commission said it would continue to investigate Credit Agricole , HSBC , JPMorgan and broker ICAP for similar offences.
(Reporting by Foo Yun Chee; editing by John O'Donnell)
