Koos Jansen
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Koos Jansen
Posted on 28 Sep 2015 by

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).

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Koos Jansen
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  • https://www.bullionstar.com/blog/ronan-manly/ Ronan Manly

    On a one-to-one mapping between investment bank nationalities and central banks, these 7 names would map as follows:
    Barclays – Bank of England / HMT
    Mitsui – Bank of Japan
    UBS – Swiss National Bank
    Deutsche Bank – Bundesbank / ECB
    HSBC – Anglo/HK/Republic National… Bank of England, PBoC, FRB
    Morgan Stanley – FRB / US Treasury
    Julius Baer – Swiss National Bank

    I’m surprised Morgan Stanley is involved in this, as it had not been previously center stage in other recent investigations.

    Inclusion of Julius Baer may suggest that other banks are involved and that Swiss just included 2 banks under its jurisdiction and one bank from each of other jurisdictions

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