COURT OF JUSTICE OF THE EU / Competition

Partial cancellation of fines ordered against Icap over derivatives cartels

Brussels, 10/11/2017 (Agence Europe)

On Friday 10 November, the General Court of the European Union (EGC) partially cancelled the decision of the European Commission of February 2015 handing down findings to the British broker Icap, which is accused of facilitating six mergers on the Yen interest rate derivatives sector (case T-180/15).

According to the Commission, the Icap group facilitated six out of the seven cartels in the yen interest rate derivatives sector between 2007 and 2010 (see EUROPE 11246). As the British broker...