Benefits & Executive Compensation News

Pension Fund Suit Over Alleged Mexican Bond Manipulation Tossed

Sept. 30, 2019, 9:19 PM

U.S. District Judge J. Paul Oetken said the plaintiffs haven’t alleged anything suggesting the individual banks were a part of a conspiracy to manipulate the market.

  • Eight funds had sued 10 banks and related entities in 2018, alleging they conspired to fix the market for some debt securities that were issued by the Mexican government
  • Last November, Mexico’s antitrust regulator fined six global banks, two brokers and a group of traders about 17.6 million pesos ($900,000) for violating the country’s securities law on volume manipulation
  • Mexican agency to announce next month whether it plans to charge financial institutions with colluding...
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