Along with an official antitrust complaint, the European Commission reportedly sent confidential data to 13 of the world’s largest banks as part of regulators’ probe into the credit derivatives market.
Law firms representing the lenders apparently left the confidential information within documents sent to the banks, which include Goldman Sachs Group and JPMorgan Chase & Co.
The Commission has told the banks they must promise to destroy the documents without reading them.
In a statement, the Commission said it “declines any responsibility” if the confidential information is not properly removed from documents.
The complaints were sent as part of a widespread investigation into the EU’s financial sector, with the credit-default market being just one part of the probe. The case accuses banks of blocking Deutsche Boerse and the Chicago Mercantile Exchange from entering the credit-default sector between 2006 and 2009.
Reports did not say what type of confidential information could have been included in the documents.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI