Global Investigations Review - The law and practice of international investigations

Antitrust

ECJ dismisses banana cartelists’ final appeal

ECJ dismisses banana cartelists’ final appeal

May 03, 2017, GIR

In proving the existence of a cartel, the European Commission can rely on evidence sent by non-competition agencies so long as the evidence was legally sent, the Court of Justice held. By Sonya Lalli.

DG Comp encourages anonymous tip-offs

DG Comp encourages anonymous tip-offs

March 20, 2017, GIR

The EU’s competition watchdog has launched a new programme that will allow whistleblowers to remain anonymous – a move some observers say is the result of a decrease in leniency applications and cartelists’ increasing fear of civil liability.

ECJ clarifies publication of leniency information

ECJ clarifies publication of leniency information

March 16, 2017, GIR

For the first time, the European Court of Justice has held that the European Commission’s public cartel decisions cannot feature verbatim information from the narrative section of leniency applications – and forced the enforcer’s hearing officers to conduct more in-depth reviews of companies’ confidentiality claims.

Citi settles South Africa forex probe

Citi settles South Africa forex probe

February 22, 2017, GIR

Citigroup will pay a 69 million rand (€5 million) fine to resolve its role in South Africa’s foreign exchange rigging investigation, days after the country’s competition enforcer referred a host of banks to the country’s Competition Tribunal alleging they fixed the exchange of the US dollar/rand currency pair.

South Africa prosecutes forex

South Africa prosecutes forex

February 16, 2017, GIR

The Competition Commission of South Africa will seek the maximum possible fines from a raft of banks – including HSBC, JP Morgan Chase and Credit Suisse, but not leniency applicant Barclays – for fixing the exchange of US dollars and South African rand.

The good, the bad and the ugly: tell GIR about the enforcers you work with

The good, the bad and the ugly: tell GIR about the enforcers you work with

February 03, 2017, GIR

GIR wants to hear your views on the due process policies and procedures of the government enforcement agencies and prosecutor’s offices you work with every day. The deadline for the 2017 Due Process Guide survey has been extended to 10 February.

CADE signs pair of Lava Jato settlements

CADE signs pair of Lava Jato settlements

January 23, 2017, GIR

Engineering companies Andrade Gutierrez and UTC agreed to pay 195 million reais (€57 million) in total as part of the most recent round of settlements in Brazil’s sprawling Car Wash investigation Jato investigation.

Three more charged in US forex probe

Three more charged in US forex probe

January 11, 2017, GIR

Six days after the Department of Justice secured its first individual guilty plea in its foreign exchange rigging investigation, a grand jury yesterday indicted three former traders for conspiring to fix prices and rig bids for the euro/US dollar currency pair.

Brazil settles in Forex and opens new probe

Brazil settles in Forex and opens new probe

December 08, 2016, GIR

Brazil’s competition watchdog yesterday announced that it would settle accusations of collusion by five banks in the foreign exchange market, but has opened a new administrative probe into alleged misconduct in the onshore currency market.

Banks vow to fight Euribor decision

Banks vow to fight Euribor decision

December 07, 2016, GIR

The European Commission’s Directorate-General for Competition has ordered Crédit Agricole, JPMorgan Chase and HSBC to pay €485 million for rigging the Euro Interbank Offered Rate, raising questions about the extent to which the authority will penalise cartelists that choose to fight antitrust charges in hybrid settlement cases.