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Europe Daily Bulletin No. 12845

3 December 2021
Contents Publication in full By article 26 / 38
ECONOMY - FINANCE - BUSINESS / Competition
UBS, Barclays, RBS, HSBC and Credit Suisse fined €344 million for Foreign Exchange spot trading cartel
Brussels, 02/12/2021 (Agence Europe)

On Thursday 2 December the European Commission ended its investigation into a cartel in the spot foreign exchange (‘Forex’) market by fining five banks.

The Commission imposed a total fine of €261 million on the four banks that opted for the settlement route (UBS, Barclays, RBS and HSBC). Credit Suisse was fined €83 million (ordinary procedure).

Commission Vice-President Margrethe Vestager, responsible for Competition Policy, said: “Foreign exchange spot trading activities are one...

Contents

COURT OF JUSTICE OF THE EU
BUDGET/RULE OF LAW: Court Advocate General recommends Hungarian and Polish actions against ‘rule of law conditionality’ regulation be dismissed
JUSTICE: representative actions by consumer associations are possible in cases of infringement of personal data protection
SECTORAL POLICIES
ENVIRONMENT: interim political agreement between European Parliament and EU Council on 8th General Environment Action Programme for 2021-2030
ENERGY: divisions between Member States persist over rising energy prices
SPACE: decision on UK contribution to Copernicus programme postponed
TELECOMMUNICATIONS: cybersecurity, artificial intelligence and digital identity on agenda of EU Member States
INTERNAL MARKET: MEPs want to extend scope of directive on common chargers
HOME AFFAIRS : EU reiterates offer to help Western Balkan countries manage migration
TRANSPORT: revision of Eurovignette Directive, Barbara Thaler calls on MEPs to reject agreement reached between EU Council and European Parliament
TRANSPORT: ‘Single European Sky’, MEPs hope negotiations will take off under French EU Council Presidency
ANIMAL HEALTH: MEPs call for carcasses to be transported rather than live animals
AGRICULTURE: EU Council adopts texts on reform of common agricultural policy
AGRICULTURE: European Commission says lifting anti-dumping duties on nitrogen fertilisers is “not a miracle solution”
EXTERNAL ACTION
BELARUS: EU adopts sanctions against 11 entities and 17 individuals over continued human rights abuse and instrumentalisation of migrants
MEDITERRANEAN: climate at heart of Parliamentary Assembly of the Union for the Mediterranean’s 7th Summit of Speakers
CAUCASUS: Luc Devigne calls for resumption of political process between Armenia and Azerbaijan
HUMANITARIAN AID: UN and EU launch major humanitarian plan to meet unprecedented global needs in 2022
WTO: WTO members want more time to decide on date of 12th Ministerial Conference
WTO: sixty-seven WTO members, including EU, commit to facilitate trade in services
SECURITY - DEFENCE
DEFENCE: EU Council adopts aid for Georgia, Moldova, Ukraine and Mali under European Peace Facility
EU RESPONSE TO COVID-19
HEALTH: Member States asked to provide “guidance” on HERA on 7 December due to lack of political agreement
HEALTH: new vaccine against Covid-19 to be evaluated by European Medicines Agency
ECONOMY : European Commission pre-finances Romanian recovery plan with €1.8 billion
HOME AFFAIRS: Namibia and Jordan removed from list of third countries whose nationals can travel to EU without restrictions
ECONOMY - FINANCE - BUSINESS
FINANCE: EU Council agreement on rules to strengthen traceability of crypto-asset transfers
COMPETITION: UBS, Barclays, RBS, HSBC and Credit Suisse fined €344 million for Foreign Exchange spot trading cartel
INSTITUTIONAL
EUROPEAN COMMISSION: European Commission tries to play down flaws in European Transparency Register
EUROPEAN PARLIAMENT: in tribute to Valéry Giscard d’Estaing, Emmanuel Macron calls for legislative right of initiative for European Parliament
BREACHES OF EU LAW
ENVIRONMENT: Romania, Germany and Spain required to explain themselves before Court for infringements of EU law
TRANSPORT: Commission takes Germany to EU Court of Justice over safety and interoperability of rail networks
FUNDAMENTAL RIGHTS: European Commission pursues infringement proceedings against Hungary over LGBTIQ+ rights violations
POLAND: European Commission closes successful rule of law case
NEWS BRIEFS
STATE AID: European Commission approves 2022–2027 regional aid map for Italy
ENERGY: ‘North Seas Energy Cooperation’ countries renew commitment to cooperate on offshore renewables
RULE OF LAW : public consultation launched to prepare next annual report on rule of law
GEORGIA: EU denounces life appointments of four Supreme Court judges
FISHERIES: Oceana exposes extent of trawling activities in Spanish marine protected areas
TURKEY: Emergency Social Safety Net for vulnerable refugees to be extended until end of 2023