OFT Raids Barclays, RBS Over Loan Price-Fixing

Law360, New York (June 2, 2008, 12:00 AM EDT) -- The U.K.’s competition watchdog has raided the offices of Barclays Plc and the Royal Bank of Scotland as part of an investigation into alleged price-fixing of loans to professional services firms.

The Office of Fair Trading confirmed Monday that it had launched an investigation into “alleged anti-competitive conduct in the financial sector,” noting that the investigation has a narrow focus and only targets two companies.

News reports of the raids surfaced Monday morning in the U.K., and Barclays and RBS both confirmed that they were being...
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