July 11, 2019 / 6:30 AM / 8 days ago

Swiss watchdog fines car leasing companies $30 million for collusion

ZURICH (Reuters) - Swiss competition watchdog WEKO has fined eight car leasing companies a total of 30 million Swiss francs ($30.4 million) for swapping information on rates for years, it said on Thursday.

The sanctions amount to 8.5 million for AMAG Leasing AG, 6.6 million for BMW Financial Services (Switzerland) Ltd, 4.4 million for FCA Capital Suisse SA, 2.8 million for Multilease AG, 2.1 million for Opel Finance SA, 2.4 million for PSA Finance Suisse SA 3.1 million for RCI Finance SA.

The decision may be appealed to the Federal Administrative Court. Proceedings continue against Ford Credit Switzerland GmbH, it said, while Mercedes-Benz Financial Services Schweiz AG did not have to pay its fine because it was the first company to come forward about the scheme.

($1 = 0.9861 Swiss francs)

Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi

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