Brodies LLP | United Kingdom | 25 Jul 2022
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
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
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
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
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
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
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
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
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
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.