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Violation Tracker Individual Record

Company: Norinchukin Bank
Current Parent Company: Norinchukin Bank
Penalty: $13,083,333
Year: 2019
Date: December 19, 2019
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Mizuho,Bank, Norinchukin Bank and Sumitomo Mitsui Banking Corporation together agreed to pay $39.25 million to settle their role in litigation concerning a conspiracy to fix the yen-denominated LIBOR interest rate benchmark. Court documents did not indicate how much each of the banks would pay. Here we assume they each paid an equal share.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:12cv3419
Case Name: Laydon v. Mizuho Bank, Ltd. et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: Japan
Ownership Structure of Current Parent: cooperative
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.