Mexico hits pension funds with billion-peso penalty

Malina McLennan

05 May 2017

Mexico hits pension funds with billion-peso penalty

iStock/Alija

Mexico’s competition watchdog yesterday fined four pension funds and 11 individuals a total of 1.1 billion pesos (€52.7 million) – a record-breaking penalty for a cartel – after finding they had colluded to manipulate the national pension fund market by divvying up clients.