Press conference by Margrethe Vestager, Member of the EC, on a cartel case
Margrethe Vestager, Member of the EC in charge of Competition, held a press conference on the EC's fines imposed on Crédit Agricole, HSBC and JPMorgan Chase, a total of € 485 million for participating in a cartel in euro interest rate derivatives. The banks colluded on euro interest rate derivative pricing elements, and exchanged sensitive information, in breach of EU antitrust rules.