The European Commission on Tuesday fined four major financial institutions 93.9 million euros, or about $119.9 million, over two types of activity that it deemed as cartel behavior. In one case, the European Commission fined JPMorgan 61.7 million euros ($78.7 million) for manipulating the Swiss franc Libor benchmark interest rate in an “illegal bilateral cartel” with the Royal Bank of Scotland. R.B.S., however, was granted immunity and avoided a fine of €110 million after revealed the existence of the cartel to the commission. “Anti-cartel enforcement is a top priority for the commission and no sector is exempt, ... (full story)