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Fideres Writes To The European Commission To Flag The Anticompetitive Implications Of IBAN Discrimination
Fideres flags the anticompetitive implications of IBAN discrimination with the European Commission.
Fideres was retained by Australia’s financial markets regulator Australian Securities and Investments Commission (ASIC) to provide financial expertise and develop economic evidence to support allegations of benchmark manipulation within the bank bill swap reference rate (BBSW) market. ASIC alleged that ANZ engaged in market manipulation, unconscionable conduct and other unlawful behaviour which likely influenced the setting of the BBSW in such a way as to advantage ANZ over others with an opposite exposure to the BBSW.
Fideres provided an expert report analysing ANZ’s trading patterns and exposure levels and analysing BBSW submissions for market manipulation.
The case settled in November 2017 via an enforcement undertaking of AUD 35m including payment into a fund to be applied to the benefit of the community.
Fideres flags the anticompetitive implications of IBAN discrimination with the European Commission.
The Italian law firm Scoccini & Associati and the Spanish law firm CCS Abogados, supported by the litigation fund ALI – Antritrust Litigation...
Fideres’s Analyst, Marco Ragusa, was awarded second place in the fourth edition of the Luigi Prosperetti Graduation Award.
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