German bank Deutsch Bank has reportedly exited its position on the panel that sets the benchmark cost of gold and silver without finding a replacement, leaving the four remaining banks to set the prices as gold price-fixing allegations continue to plague the institutions.
Reports say Deutsche Bank announced its resignation from the fixes on Tuesday; a source said the bank gave two-weeks notice of its departure.
Earlier reports had predicted Deutsche Bank would not likely find a buyer to fill the position due to ongoing litigation that accuses the five banks of manipulating gold prices.
The German bank had been on the fix for two decades.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Appoints Law Firms to Lead Consumer Antitrust Litigation Against Apple
Dec 22, 2024 by
CPI
Epic Health Systems Seeks Dismissal of Antitrust Suit Filed by Particle Health
Dec 22, 2024 by
CPI
Qualcomm Secures Partial Victory in Licensing Dispute with Arm, Jury Splits on Key Issues
Dec 22, 2024 by
CPI
Google Proposes Revised Revenue-Sharing Limits Amid Antitrust Battle
Dec 22, 2024 by
CPI
Japan’s Antitrust Authority Expected to Sanction Google Over Monopoly Practices
Dec 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand