A PYMNTS Company

EU: With official complaint, banks accidentally sent confidential info

By  |  October 1, 2013

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.