Swiss Competition Commission investigates UBS and JuliusBaer on possible collusion in PM trading

Originally published at the portal of the Swiss government (translated by Markus M. Muller):

The Swiss Competition Commission has started a investigation against the two Swiss Banks UBS and Julius Baer plus the foreign financial institutions Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui. The Commission has gained possible evidence, that the banks may have colluded in trading precious metals. The suspicion is that they might colluded in price fixes, especially “spreads” (differences in bid and offer prices).