Citi, Deutsche Bank Admit To Sharing Pricing Secrets Of UK Government Bonds: Report

Citigroup, Inc. (NYSE:C) and Deutsche Bank AG (NYSE:DB) have reportedly exchanged "sensitive" information on the pricing of U.K. government bonds.

• Britain's Competition and Markets Authority has slammed Citigroup and Deutsche Bank for what's considered to be anti-competitive activity, Reuters reported. 
• The banks shared competitive information about buying and selling pricing and other aspects of U.K. government bonds in one or more one-to-one conversations between a few traders in Bloomberg chatrooms between 2009 and 2013.
• A Deutsche Bank spokesperson told Reuters that it had secured "provisional immunity" after proactively reporting the activities, which took place before 2014. 
• Citi said it had "co-operated fully" with the CMA on the matter, mentioned the Reuters report.
• Three other banks — HSBC Holdings PLC (NYSE:HSBC), Morgan Stanley (NYSE:MS), and Royal Bank Of Canada (NYSE:RY) — have also been slammed by Britain's Competition and Markets Authority.
• However, these banks have not admitted wrongdoing over the alleged information sharing by the regulatory watchdog.

Price Action: C shares are trading lower by 0.46% to $45.70 premarket on the last check Wednesday, while DB shares were down by 0.75% to $10.52.