ISDA Caught Up in EU Probe of Credit-Default Swap Data

http://www.bloomberg.com/news/2013-03-26/isda-under-investigation-in-eu-probe-of-credit-default-swap-data.html

The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.

Regulators found “indications that ISDA may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business,” the European Commission said in a statement today. The EU started a probe in April 2011 into whether 16 lenders, including Citigroup Inc. (C) and Deutsche Bank AG (DBK), colluded by giving pricing information to data provider Markit Group Ltd.