Topic: Financial Services

UK tribunal sets date for first-ever carriage dispute hearing

The UK’s Competition Appeal Tribunal will hold a hearing in July to determine which of two competing Forex opt-out class actions should proceed to trial, marking the first time it presides over a so-called carriage dispute.

15 January 2021

EU clears LSE/Refinitiv with remedies

The European Commission has approved the London Stock Exchange Group's acquisition of Refinitiv, after accepting substantial structural and behavioural commitments.

13 January 2021

Mastercard’s loss at UK Supreme Court is a “revolution”, lawyers say

A landmark decision by the UK Supreme Court allowing the rehearing of a request to certify a proposed competition damages claim against Mastercard has significantly lowered the bar for future class actions, lawyers have said.

11 December 2020

Ex-MEP leads Portuguese class action against Mastercard

A specially-formed consumer group has filed Portugal’s first-ever opt-out antitrust damages claim, aiming to compensate all of the country’s consumers for overcharges allegedly passed on by Mastercard’s anticompetitive interchange fees.

04 December 2020

Dutch enforcer launches payment apps probe

The Dutch competition authority is investigating whether payment apps have been unlawfully restricted from accessing software in smartphones needed to provide contactless payment services.

04 December 2020

Merricks judgment delayed at UK Supreme Court

The UK Supreme Court’s highly-anticipated ruling in Walter Merricks' opt-out class action claim against Mastercard has been indefinitely postponed due to the passing of presiding justice Lord Brian Kerr.

03 December 2020

Forex claimants secure convicted ex-trader as expert

Courts in London and New York have allowed claimants seeking antitrust damages from banks accused of rigging foreign exchange rates to use former Barclays trader-turned-whistleblower Jason Katz as a consultant.

02 December 2020

UK tribunal dismisses Visa preliminary ruling request

The UK’s Competition Appeal Tribunal has dismissed Visa’s request to ask the European Court of Justice to clarify the counterfactual analysis when assessing antitrust damages claims stemming from its multilateral interchange fees.

01 December 2020

Visa defends merger with Plaid, slams DOJ’s “potential competition” theory of harm

Visa has said its acquisition of Plaid would result in significant benefits “that simply dwarf the highly remote and speculative risk of anticompetitive effects” that the Department of Justice has alleged will stem from the transaction.

01 December 2020

DOJ requires Intuit to sell Credit Karma’s free tax business

Intuit must divest Credit Karma’s digital do-it-yourself tax business to move forward with its $7.1 billion acquisition of the financial technology company, the Department of Justice has said.

30 November 2020

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