Competition & Regulatory Newsletter

On 24 September 2019 the European General Court annulled a €33.6m fine that the European Commission had imposed on HSBC in December 2016 for its participation in the Euribor cartel. While the court largely upheld the Commission’s decision, it nonetheless annulled HSBC’s fine on the basis that the Commission had provided “insufficient reasoning” as to how it had calculated the fine.

Also in this newsletter

• CMA fines PayPal for breaching an initial enforcement order
• General Court issues State Aid decisions in Starbucks and Fiat
• China’s State Administration for Market Regulation announces conditional clearance of II-VI Incorporated’s acquisition of Finisar Corporation