EU Court Affirms Cartel Ruling Against UBS, UniCredit, and Nomura

Europe's second-highest court has sided with EU antitrust regulators who, four years ago, penalized UBS, UniCredit, Nomura, Bank of America, Natixis, and Portigon for participating in a government bond cartel. The Luxembourg-based General Court largely confirmed the European Commission's decision but also moderately reduced the fines imposed on UniCredit and Nomura.