CASE COMMENTS: CARTELS – EUROPEAN UNION – EXCHANGE OF INFORMATION – AMOUNT OF THE FINE – INSUFFICIENT MOTIVATION

Exchange of information: The General Court of the European Union confirms that exchanges of information between traders constitute an infringement by object, but blames the European Commission for an insufficient motivation in setting the amount of the fine (HSBC)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. On 7 December 2016, the European Commission sanctioned several banks for various cartel activities in a "single and continuous infringement" in the market for euro-denominated interest rate derivatives (EIRDs). One bank (Barclays), having disclosed the facts, was granted leniency; others accepted a settlement procedure. HSBC Bank, not having been granted any reduction under a negotiated procedure, was fined EUR 33 606 000, a high amount in view of the duration of the practice (one month). In its decision, the Tribunal revisits the conditions

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

Quotation

Anne-Sophie Choné-Grimaldi, Exchange of information: The General Court of the European Union confirms that exchanges of information between traders constitute an infringement by object, but blames the European Commission for an insufficient motivation in setting the amount of the fine (HSBC), 24 September 2019, Concurrences N° 1-2020, Art. N° 93289, pp. 73-74

Visites 148

All reviews