Sector: Financial services

European Commission issues record fines

December 11, 2013 | 0 Comments

Following on from our previous post and the LIBOR update article in our June 2013 edition of Regulator, the European Commission (EC) last week handed down record fines to eight financial institutions for their involvement...

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ANZ gets home on defending price fixing claims

November 22, 2013 | 0 Comments

A longstanding dispute between the ANZ and the ACCC has finally been resolved, with the Federal Court dismissing the allegations of the ACCC in a decision handed down by Justice Dowsett on Monday 18 November...

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Foreign exchange under the microscope

November 4, 2013 | 1 Comments

In the last two weeks, the US Department of Justice (US DoJ) and UK’s Financial Conduct Authority (FCA) reached further settlement agreements in relation to alleged manipulation of various global interest rates. As reported previously,...

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The mystery around bank interchange fees

October 2, 2013 | 0 Comments

While the world of bank interchange fees can at best be described as murky, competition regulators across the globe have been searching for clarity by scrutinising these fees and how service providers, primarily Visa and...

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Coalition to uproot competition laws?

September 9, 2013 | 5 Comments

With the votes counted and Tony Abbott safely claiming a Coalition victory on 7 September 2013, it’s not only the government that is getting a makeover.  As with most elections, the lead up was jam-packed...

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It appears that Apple is not the only company in the French Competition Authority’s (FCA) sights. Reports reveal that 40 to 50 FCA officials launched coordinated dawn raids last week on the offices of three...

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NYSE Euronext ex-changes hands

June 28, 2013 | 0 Comments

The European Commission has approved IntercontinentalExchange’s (ICE) acquisition of NYSE Euronext for $8.2 billion in the biggest financial exchange merger since NYSE Euronext and Deutsche Börse’s $10 billion failed merger in 2011. In a statement...

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LIBOR update

June 21, 2013 | 0 Comments

In today’s issue of our quarterly newsletter Regulator, Greg Golding and Andris Gauja have written an update on the snowballing LIBOR scandal, looking at the penalties imposed, the possibility of class actions and ongoing financial...

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On 28 May 2013, the European Commission released its annual report, the Report on Competition Policy (2012) (EC Report), which emphasised the use of competition policy to leverage the Single Market for growth, and rejected...

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Will Lehman eat porridge for SCDOs?

May 7, 2013 | 0 Comments

The liquidators of Lehman Brothers Australia are appealing a landmark Federal Court decision that found it liable for losses suffered by a number of local councils and charity groups. Late last year the Federal Court...

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