The Commission has confirmed that, commencing on 18 October 2011, it conducted unannounced inspections (dawn raids) at the sites of companies involved in the financial derivative products sector linked to the Euro Interbank Offered Rate (EURIBOR) in numerous Member States. These inspections (conducted under Article 20 of Regulation 1/2003) are the initial steps of the Commission’s investigations.

The inspections were the result of the Commission having grounds to believe that the companies were involved in anti-competitive practices in breach of Article 101 TFEU.