Press Release: Antitrust: Commission sends Statement of Objections to ICAP for suspected participation in yen interest rate derivatives cartels

The European Commission informed on 10 June 2014 the UK based broker ICAP of its preliminary view that it may have breached EU antitrust rules by facilitating several cartel infringements in the market for interest rate derivatives denominated in the yen currency. The sending of a statement of objections does not prejudge the final outcome of the investigation.

A Statement of Objections is a formal step in Commission investigations into suspected violations of EU rules on restrictive business practices.

ESO: Background information: Antitrust http://www.europeansources.info/record/website-antitrust/

ESO: Background information: Antitrust: Commission sends Statement of Objections to Crédit Agricole, HSBC and JPMorgan for suspected participation in euro interest rate derivatives cartel http://www.europeansources.info/record/press-release-antitrust-commission-sends-statement-of-objections-to-credit-agricole-hsbc-and-jpmorgan-for-suspected-participation-in-euro-interest-rate-derivatives-cartel/

ESO: Background information: Antitrust: Commission fines banks €1.71bn for participating in cartels in the interest rate derivatives industry http://www.europeansources.info/record/press-release-antitrust-commission-fines-banks-e1-71bn-for-participating-in-cartels-in-the-interest-rate-derivatives-industry/

European Commission: RAPID: Memo, MEMO/13/1090: Antitrust: Commission fines banks € 1.71 billion for participating in cartels in the interest rate derivatives industry - frequently asked questions http://europa.eu/rapid/press-release_MEMO-13-1090_en.pdf

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