EU Raids Top Banks In Euribor Antitrust Probe

Law360, New York (October 19, 2011, 12:23 PM EDT) -- The European Commission said Wednesday that it had raided several major banks as part of a probe into alleged fixing of the Euro Interbank Offered Rate, marking the latest investigation this year into benchmark interest rates.

The European Union's antitrust watchdog said that officials conducted unannounced inspections this week over concerns that financial institutions offering derivatives linked to Euribor may have violated European competition laws that prohibit cartels and restrictive business practices. The EC did not name the banks targeted by the inspections, which began Tuesday....
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