Opinion of the Advisory Committee on restrictive agreements and dominant position given at its meeting of 17 October 2014 concerning a preliminary draft decision relating to Case AT.39924 — Swiss Franc Interest Rate Derivatives (CHF LIBOR) — Rapporteur: Netherlands
Date: 2014-10-17
Institutions: Advisory Committee on Restrictive Practices and Dominant Positions
Subjects: Switzerland, exchange of information, exchange rate, fine, foreign currency, interest, private bank, restriction on competition, trade information








C_2015072EN.01000701.xml










28.2.2015   


EN


Official Journal of the European Union


C 72/7





Opinion of the Advisory Committee on restrictive agreements and dominant position given at its meeting of 17 October 2014 concerning a preliminary draft decision relating to Case AT.39924 — Swiss Franc Interest Rate Derivatives
(CHF LIBOR)
Rapporteur: Netherlands
(2015/C 72/05)






1.


The Advisory Committee agrees with the Commission that the anticompetitive behaviour covered by the two draft decisions constitutes agreements and/or concerted practices between relevant undertakings within the meaning of Article 101 of the TFEU and Article 53 EEA.










2.


The Advisory Committee agrees with the Commission’s assessment of the product and geographic scope of the agreements and/or concerted practices contained in the two draft decisions.










3.


The Advisory Committee agrees with the Commission that the undertakings concerned by the two draft decisions have participated in that infringement/those infringements as described in the two draft decisions.










4.


The Advisory Committee agrees with the Commission that the object of the agreements and/or concerted practices for the two infringements described in the two draft decisions was to restrict competition within the meaning of Article 101 of the TFEU and Article 53 EEA.










5.


The Advisory Committee agrees with the Commission that the agreements and/or concerted practices described in the two draft decisions have been capable of appreciably affecting trade between the Member States of the EU.










6.


The Advisory Committee agrees with the Commission’s assessment as regards the duration for the infringements described in the two draft decisions.










7.


The Advisory Committee agrees with the Commission as regards the addressees of the two draft decisions.










8.


The Advisory Committee agrees with the Commission that fines should be imposed on the addressees of the two draft decisions.










9.


The Advisory Committee agrees with the Commission on the application of the 2006 Guidelines on the method of setting fines imposed pursuant to Article 23(2)(a) of Regulation (EC) No 1/2003 for the two draft decisions.










10.


The Advisory Committee agrees with the Commission on the basic amounts of the fines for the two draft decisions.










11.


The Advisory Committee agrees with the determination of the duration for the purpose of calculating the fines for the two decisions.










12.


The Advisory Committee agrees with the Commission as regards the reductions of the fines based on the 2006 Leniency Notice for the two draft decisions.










13.


The Advisory Committee agrees with the Commission as regards the reduction of the fines based on the 2008 Settlement Notice for the two decisions.










14.


The Advisory Committee agrees with the Commission on the final amounts of the fines for the two decisions.










15.


The Advisory Committee recommends the publication of its opinion in the Official Journal of the European Union.