The EU General Court partially annuls a Commission decision fining a financial company for facilitating cartels in the market of interest rate derivatives in Japanese yen (Icap)

On 10 November 2017, the General Court (“GC”) partially upheld the appeal lodged by Icap plc, Icap Management Services Ltd and Icap New Zealand Ltd (“Icap”) against a Commission decision ning Icap € 14.9 million for facilitating cartels in the market for interest rate derivatives in Japanese yen (T-180/15, Icap and Others). In its judgment, the GC ruled that the Commission had not erred in law in nding that Icap had facilitated a number of infringements of Article 101 TFEU (see analysis below). However, the GC considered that the Commission was wrong with respect to the duration of Icap’s participation in four of the cartels in which Icap was found to have been involved. The GC also took the view that the Commission had breached Icap’s rights to presumption of innocence and good

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

  • Van Bael & Bellis (Brussels)

Quotation

Richard Burton, The EU General Court partially annuls a Commission decision fining a financial company for facilitating cartels in the market of interest rate derivatives in Japanese yen (Icap), 10 November 2017, e-Competitions Bulletin November 2017, Art. N° 85454

Visites 269

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues