The Cypriot Competition Authority fines several banking for abuse of dominance and cartel (JCC )

The Commission for the Protection of Competition with its decision no. 6/2016 dated 27/01/2016 imposed on JCC Payment Systems Limited, Bank of Cyprus Public Company Ltd, Marfin Popular Bank Public Co Ltd, Hellenic Bank Public, USB Bank Plc, Alpha Bank Cyprus Ltd, Emporiki Bank of Cyprus Ltd, National Bank of Greece (Cyprus) Ltd and Societe Generale Cyprus Ltd, total administrative fines amounting to €31.009.766 for the infringement of Articles 3(1)(a) and 6(1)(a) and (b) of the Protection of Competition Laws of 2008 and 2014 and Articles 101 and 102 of the Treaty on the Functioning of the European Union, following a complaint submitted by FBME Card Services Ltd* The Commission for the Protection of Competition (hereinafter the “CPC”) unanimously decided with its decision no. 6/2016

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Cypriot Competition Authority, The Cypriot Competition Authority fines several banking for abuse of dominance and cartel (JCC ), 27 January 2016, e-Competitions Bulletin January 2016, Art. N° 86365

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