Antitrust and Financial Services

HSBC v Commission: EU General Court gives leeway to the Commission in application of fundamental rights of defence

Oct 14, 2019

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.

Related Practice(s): Antitrust & Financial Services
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Claimants Bring UK Class Action Against Investment Banks for FX Manipulation

Aug 09, 2019

On 29 July 2019, claimants brought a class action in the UK Competition Appeal Tribunal (CAT) against five investment banks, alleging potentially billions of pounds in damages from cartel conduct in the foreign exchange markets. 

Related Practice(s): Antitrust & Financial Services
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Mass Claim Against MasterCard in UK is Given a Second Chance at Certification

Apr 29, 2019

On 16 April 2019, the Court of Appeal issued a ruling that gives a second chance at certification to the £14 billion mass consumer claim brought against MasterCard by Walter Merricks. The ruling breathes new life into the claim and into the UK’s nascent opt-out class action regime.

Related Practice(s): Antitrust
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