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Swiss watchdog fines seven banks US$100m for rate-rigging

Offenders operated cartels to influence Libor and Euribor benchmarks

Geneva

SWITZERLAND handed out about US$100 million in antitrust fines against seven United States and European banks for participating in cartels to manipulate widely used financial benchmarks.

JPMorgan Chase & Co was fined 33.9 million francs (S$47.8 million) for operating a

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