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Email In December 2016, HSBC was fined €33.6 million by the European Commission for its role in the Euro Interest Rates Derivatives (EIRD) cartel – an off-shoot of the regulatory scrutiny of LIBOR manipulation. https://www.cadwalader.com/resources/newsletters/antitrust-and-financial-services/hsbc-v-commission-eu-general-court-gives-leeway-to-the-commission-in-application-of-fundamental-rights-of-defence