• The European Commission has decided to close its investigation into 13 investment banks in relation to the credit default swaps market. On 1 July 2013 the Commission adopted a Statement of Objections against Markit, the International Swaps and Derivatives Association (ISDA) and 13 investment banks. The Statement of Objections raised preliminary concerns that all parties had coordinated to foreclose from the credit default swaps market Deutsche Börse in 2007 and Chicago Mercantile Exchange in 2008. The Commission has indicated that the evidence was not sufficiently conclusive to confirm the Commission's concerns with regards to the 13 investment banks. However, the Commission's investigation regarding Markit and ISDA is ongoing. Click here.
  • An Advocate General's opinion has been handed down on whether an undertaking could be held liable for participation in bid-rigging, where the unlawful conduct was carried out without the undertaking’s knowledge by an independent third party in charge of preparation of the tender and acting on behalf of the undertaking. The Advocate General has suggested that there should be a rebuttable presumption that an undertaking is liable in these circumstances. Click here.
  • The European Commission has opened a formal investigation in the biofuels sector concerning ethanol benchmarks. The Commission is investigating whether three ethanol producers have manipulated ethanol benchmarks published by a price reporting agency.Click here.
  • The European Commission has confirmed that on 24 November 2015 its officials carried out unannounced inspections in the sector of rail passenger transport and related services in Austria. The Commission has indicated that it has concerns that the companies concerned may have violated Articles 101 and 102 of the Treaty on the Functioning of the European Union. The investigation relates to alleged anti-competitive practices aimed at excluding competing rail passenger transport operators from the market. Click here.