The EU General Court partially annuls the 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

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Auteur

  • Van Bael & Bellis (Brussels)

Citation

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

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