ALERTS: CARTELS - EUROPEAN UNION – PRICE FIXING - DERIVATIVES - BANKING SECTOR - ANNULMENT - FINES

Price fixing: The General Court of the European Union essentially confirms the Commission’s decision to sanction the cartel on the price fixing of interest rate derivatives in euro, but partially annuls the decision for insufficient reasoning in the calculation of the fine (HSBC)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On 24 September 2019, the General Court of the European Union delivered a judgment in Case T-105/17 (Press and Information HSBC Holdings plc and Others v European Commission).. It will be recalled that, following a leniency application by Barclays Bank in 2011, the Commission, in a decision issued on December 7, 2016, imposed a leniency order on Barclays Bank, which was issued on December 7, 2016.The Commission also imposed fines totalling €485 million on Crédit Agricole, HSBC and JPMorgan Chase for agreeing on elements of the pricing of euro interest rate derivatives and for exchanging sensitive information. The Commission found that the three credit

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  • L’actu-concurrence (Paris)

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Alain Ronzano, Price fixing: The General Court of the European Union essentially confirms the Commission’s decision to sanction the cartel on the price fixing of interest rate derivatives in euro, but partially annuls the decision for insufficient reasoning in the calculation of the fine (HSBC), 24 September 2019, Concurrences N° 4-2019, Art. N° 91809, www.concurrences.com

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