EU Investigating 16 Major Banks Over Collusion In The CDS Market

Lloyd Blankfein Gary Cohn

[credit provider=”AP”]

The EU is investigating 16 major banks — including JPMorgan and Goldman Sachs — over collusion in the market for credit default swaps.This is according to an AP report.

Details are pretty scarce at this point.

There are concerns regarding preferential treatment from ICE Clear (the European CDS clearing house, as well as collusion with Markit.