The EU Court of Justice upholds the annulment of a €33.6M fine against a banking group on the rationale that the presumption of innocence was vitiated by two errors in law (HSBC Group)

Competition in the Euro Interest Rate Derivatives sector: the Court of Justice upholds the annulment of the € 33.6 million fine imposed on the HSBC Group* The HSBC Group is a banking group, and one of its activities is global banking and markets. HSBC Holdings is the parent company of HSBC France, and the latter is the parent company of HSBC Bank. HSBC France and HSBC Bank are responsible for the negotiation of Euro Interest Rate Derivatives (EIRDs). HSBC France is responsible for submitting rates to the Euro Interbank Offered Rate (Euribor) panel. Following

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European Court of Justice, The EU Court of Justice upholds the annulment of a €33.6M fine against a banking group on the rationale that the presumption of innocence was vitiated by two errors in law (HSBC Group), 12 January 2023, e-Competitions January 2023 - II, Art. N° 110580

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