Four major banks, Citi, HSBC, Morgan Stanley, and Royal Bank of Canada, have agreed to pay fines totaling over £100 million to the UK's Competition and Markets Authority (CMA) for sharing sensitive information about UK government bonds, known as gilts, through private chat rooms on financial information platforms between 2009 and 2013. Deutsche Bank, which also participated in the information sharing, was granted immunity for reporting the issue to the regulator. Citi received a reduced fine after requesting leniency during the CMA's investigation. The fines are as follows: Citi will pay £17.16 million, HSBC £23.4 million, Morgan Stanley £29.7 million, and Royal Bank of Canada £34.2 million. The CMA noted that the banks have implemented extensive compliance measures to prevent future occurrences of such behavior.