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Brodies LLP | United Kingdom | 25 Jul 2022
Court clarifies limited scope of the Quincecare duty of care
In our recent blog, we considered the duty of care Banks owe to their customers to protect them from fraudulent activity. In a decision of the Privy…
Lexology PRO | European Union | 2 Dec 2021
EU ends forex cartel probe with hybrid settlement decision
The European Commission has fined UBS, Barclays, Royal Bank of Scotland, HSBC and Credit Suisse a total of €344 million as part of a hybrid settlement decision, after traders at the banks unlawfully colluded to share information about foreign-exchange deals.
Squire Patton Boggs | United Kingdom | 6 Aug 2021
Bank did not breach duties in loan renegotiation
In December 2006, Mr Morley, a commercial property developer, entered into a £75m, three-year loan with Royal Bank of Scotland plc to refinance his…
Lexology PRO | European Union, United Kingdom | 15 Jul 2021
CAT chairman questions alleged effects of Forex cartel
The UK judge overseeing two proposed class actions against members of the Forex cartel has laid out his initial concerns about both claimants’ theories of harm.
Lexology PRO | European Union | 29 Jun 2021
EU lowers HSBC fine in readopted Euribor decision
The European Commission has readopted two Euro Interest Rate Derivatives cartel decisions, including reducing a fine on HSBC by nearly €2 million after the General Court annulled the agency’s original sanction in 2019.
Lexology PRO | Belgium, European Union | 16 Jun 2021
EU blocks former bank cartelists from coronavirus bond issuances
The European Commission has banned ten banks – including Barclays and Deutsche Bank – from participating in certain bond sales to fund coronavirus recovery due to their previous cartel involvement.
Lexology PRO | Australia, European Union, France, etc. | 2 Jun 2021
Competition and antitrust: Key compliance updates (19 May – 1 Jun)
A look at new competition rules for big tech giants in Germany, enforcement action over cartel conduct in Australia, a new UK CMA Office and advances for the modernisation of competition law in France – plus other key competition and antitrust updates.
Lexology PRO | Asia-Pacific, Belgium, European Union, etc. | 28 May 2021
EU readopts ICAP cartel decision but cuts fine
The European Commission has readopted its decision against ICAP for its alleged role in a conspiracy to manipulate the market for yen interest rate derivatives but slashed the fine it imposed on the broker by €8 million.
PRO Compliance | Central & Eastern Europe, European Union, France, etc. | 28 Oct 2020
Swiss enforcer hits Euribor cartel with more fines
Switzerland’s antitrust authority has fined Crédit Agricole and HSBC a total of €6 million for colluding to manipulate the Euro Interbank Offered Rate, while also closing two investigations into NEX International for its suspected role in rigging other benchmark interest rates.
PRO Compliance | United Kingdom, USA | 27 Jul 2020
UBS loses bid to dismiss LIBOR collusion claims
A UK court has denied UBS’s request to throw out competition law claims filed by a US governmental agency, which accuse the bank of colluding with 11 rivals to manipulate the pound-to-dollar exchange rate.
