CASE COMMENTS: CARTELS – EUROPEAN UNION – SPOT FOREIGN EXCHANGE MARKET – SETTLEMENT

Fine: The European Commission sanctions a cartel on the spot foreign exchange market and imposes a fine of more than €1 billion on several banks, all of which have acknowledged their participation in the infringement under the settlement procedure (Forex - Essex Express)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. It is easy to say that, in competition law, fortune does not smile on the bold. Traders may be bold, but in recent years the Commission has taken numerous decisions sanctioning cartels on the financial markets. This is illustrated, if need be, by those revealed in the sector of interest rate derivatives denominated in yen, euro or Swiss francs (see, respectively, Eur. Commission, 4 Dec. 2013 and 4 Feb. 2015, AT.39861, Interest rate

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  • European Court of Justice (Luxembourg)

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Etienne Thomas, Fine: The European Commission sanctions a cartel on the spot foreign exchange market and imposes a fine of more than €1 billion on several banks, all of which have acknowledged their participation in the infringement under the settlement procedure (Forex - Essex Express), 16 May 2019, Concurrences N° 3-2019, Art. N° 91529, pp. 81-82

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