Case T- 105/17 HSBC Holdings plc and Others v Commission (Euro interest rate derivatives) [Archived]
Case T- 105/17 HSBC Holdings plc and Others v Commission (Euro interest rate derivatives) [Archived]

The following Competition guidance note provides comprehensive and up to date legal information covering:

  • Case T- 105/17 HSBC Holdings plc and Others v Commission (Euro interest rate derivatives) [Archived]
  • Case facts
  • Timeline
  • Relevant/related cases

CASE HUB

NOTE—appeal lodged before the Court of Justice in Case C- 806/19 P

ARCHIVED—this archived case hub reflects the position at the date of the judgment of 24 September 2019; it is no longer maintained.

See further: timeline and relevant/related cases.

Case facts

Outline Appeal to the General Court against the Commission's decision of 7 December 2016 finding infringements and imposing fines on three banks that did not settle in relation to their participation in a cartel in the Euro interest rate derivatives (EIRD) market (Case AT.39914).

Latest developments On 24 September 2019, the General Court issued its judgment in which it largely upheld the Commission's findings that HSBC Holdings plc participated in a single and continuous infringement of Article 101(1) TFEU. However, the General Court annulled the fine imposed on HSBC Holdings plc on the basis that the Commission had given ‘insufficient reasons’ as to how it calculated the fine.

Parties Applicants:
• HSBC Holdings plc (London, United Kingdom)
• HSBC Bank plc (London, United Kingdom)
• HSBC France (Paris, France)

Defendant:
• European Commission

Background Commission’s 2013 decision

On 19 October 2011,