Competition weekly news summary
24 October 2014


Dear colleagues,

The next competition e-News will be published on Friday, 7th November 2014.

Have a nice week-end !

Conferences and Speeches

  • Antitrust litigation – The way ahead
    MLex seminar: Damages Litigation: A new frontier for Europe, London, Joaquín Almunia
    23 October 2014
    "[...] I consider the Directive on Antitrust Damages Actions as the most important legal initiative I launched during my term. The Directive, which is to be formally adopted in the coming days, is the first binding piece of EU legislation in this area."
    Read full speech >

Antitrust

  • Commission settles RBS-JPMorgan cartel in derivatives based on Swiss franc LIBOR; imposes € 61.6 million fine on JPMorgan
    21 October 2014
    The Commission has found that two international banks, RBS and JP Morgan, participated in an illegal bilateral cartel aimed at influencing the Swiss franc Libor benchmark interest rate between March 2008 and July 2009. Such collusion is prohibited by EU antitrust rules. The banks agreed to settle the case with the Commission under a simplified procedure. RBS received immunity from fines for revealing the existence of the cartel to the Commission. JPMorgan was fined € 61 676 000 after benefitting from a reduction of its fine for its cooperation with the investigation under the Commission's 2006 Leniency Notice, as well as a 10% reduction for agreeing to settle the case with the Commission.
    VP Almunia's statement >
    Press release >
  • Commission settles cartel on bid-ask spreads charged on Swiss Franc interest rate derivatives; fines four major banks € 32.3 million
    21 October 2014
    The Commission has found that four international banks, RBS, UBS, JP Morgan and Crédit Suisse, operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the EEA. The Commission imposed fines worth a total of € 32 355 000. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. All four banks received a 10% reduction for agreeing to settle the case with the Commission.
    VP Almunia's statement >
    Press release >
  • Commission seeks feedback on commitments from Skyteam airline alliance members Air France/KLM, Alitalia and Delta concerning transatlantic cooperation
    21 October 2014
    The Commission has invited interested third parties to comment on commitments proposed by Air France/KLM, Alitalia and Delta to address concerns that their transatlantic cooperation may harm competition for premium passengers on the Paris-New York route and for all passengers on the Amsterdam-New York and Rome-New York routes, in breach of EU antitrust rules. The three airlines have offered to make landing and take-off slots available at both ends of the Amsterdam-New York and Rome-New York routes to facilitate the market entry of competitors. They are also prepared to enter into agreements which would enable competitors to offer tickets on their flights and facilitate access to connecting traffic, as well as to provide access to their frequent flyer programmes on all three routes. If the market test confirms that the proposed commitments remedy the competition concerns, the Commission may make them legally binding on the companies.
    Read more >
  • Commission sends Statement of Objections to Honeywell and DuPont regarding cooperation on new refrigerant used in car air conditioning systems
    21 October 2014
    The Commission has informed Honeywell and E.I. du Pont de Nemours of its preliminary view that the cooperation they entered into in 2010, based on several agreements on the production of a new refrigerant for use in car air-conditioning systems (R-1234yf), may have limited its availability and technical development, in breach of EU antitrust rules.
    Read more >

Competition

  • AD7 EPSO competition on Competition Law
    24 October 2014
    The Commission is looking for highly-talented lawyers specialised in European competition law (anti-trust, mergers or state aid). You should have at least six years' professional experience and a strong academic background in the application of competition rules and procedures in a law firm, jurisdiction, in-house lawyer in a company, legal consultancy, business organisation, national or international authority. If you want a truly exciting job where you can make a real difference, then this is your chance to build your career in a multi-national environment at the very heart of the EU. To work for the Commission you need to be a European citizen and have a thorough knowledge of one of the official languages of the EU plus a satisfactory knowledge of English, French or German. Deadline for applications: 25 November 2014, 12.00 midday Brussels time.
    Apply here >
  • ECN publishes October issue of news brief
    24 October 2014
    The ECN has published today the October issue of the ECN Brief. Among other news, this issue reports on enforcement actions in a wide range of sectors such as food, energy or payment cards, as well as legislative and institutional developments such as the establishment of the Competition and Consumer Protection Commission in Ireland. The next issue will be published in December 2014.
    Read full ECN Brief >

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Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

© European Union, 2014. Reproduction is authorised provided the source is acknowledged.

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