Work Area: Cartels

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.

02 December 2021

Top executive at immunity applicant JPMorgan denies cartel breach

JPMorgan Australia’s current chair and former chief executive has testified that his bank and three rivals did not breach competition rules when a capital raising fell short in 2015, despite his company applying for immunity as part of the cartel probe that followed.

02 December 2021

Dutch enforcer raids foods companies

The Dutch competition authority has raided multiple domestic and foreign companies in the food processing market, after the agency’s head previously warned it would be conducting more office searches.

01 December 2021

ACCC official denies improper dealings with financial regulator in cartel probe

A top cartel official at the Australian Competition and Consumer Commission has rejected claims that the enforcer tried to dissuade the country’s financial regulator from pursuing an investigation into an immunity applicant.

01 December 2021

DOJ’s first criminal wage-fixing case survives

Wage-fixing is just price-fixing by another name, a federal judge in Texas has ruled in rejecting a motion to dismiss filed by two defendants accused of conspiring to fix wages for physical therapists.

01 December 2021

Roll-on, roll-off cartelists dispute viability of UK class action

Members of the roll-on, roll-off shipping cartel have urged the UK’s Competition Appeal Tribunal to reject a £150 million proposed class action against them because the class representative’s suggested methodology “cannot establish loss at all”.

30 November 2021

Israel sanctions video game cartel

An Israeli district court has convicted three video game vendors of colluding to fix the prices of PlayStation and Xbox consoles on a national comparison shopping website.

30 November 2021

Deutsche Bank accuses ACCC of allowing conflict of interest in cartel case

Counsel for a bank challenging criminal cartel charges in Australia has accused the country’s competition watchdog of prejudicing an investigation by allowing employees of leniency applicant JPMorgan to be interviewed with the latter's own lawyers present.

30 November 2021

Roll-on, roll-off class action seeks certification in UK

A consumer rights advocate has urged the UK’s specialist competition tribunal to certify his proposed £150 million class action against members of the roll-on, roll-off shipping cartel, while rejecting criticism about the methodology used to assess causation and loss.

29 November 2021

Dutch enforcer drops wage-fixing cartel probe

The Dutch competition authority has terminated a cartel investigation into supermarkets that allegedly fixed wages through an industry association, after a new collective bargaining agreement was struck between the employers and their employees’ labour union.

29 November 2021

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