CELEX: 62017TA0105
Language: en
Date: 2019-09-24 00:00:00
Title: Case T-105/17: Judgment of the General Court of 24 September 2019 — HSBC Holdings and Others v Commission (Competition — Agreements, decisions and concerted practices — Euro Interest Rate Derivatives sector — Decision establishing an infringement of Article 101 TFEU and Article 53 of the EEA Agreement — Manipulation of the Euribor interbank reference rates — Exchange of confidential information — Restriction of competition by object — Single and continuous infringement — Fines — Basic amount — Value of sales — Article 23(2) of Regulation (EC) No 1/2003 — Obligation to state reasons)

9.12.2019   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 413/41
            
         
      Judgment of the General Court of 24 September 2019 — HSBC Holdings and Others v Commission
      (Case T-105/17) (1)
      
      (Competition - Agreements, decisions and concerted practices - Euro Interest Rate Derivatives sector - Decision establishing an infringement of Article 101 TFEU and Article 53 of the EEA Agreement - Manipulation of the Euribor interbank reference rates - Exchange of confidential information - Restriction of competition by object - Single and continuous infringement - Fines - Basic amount - Value of sales - Article 23(2) of Regulation (EC) No 1/2003 - Obligation to state reasons)
      (2019/C 413/48)
      Language of the case: English
      
         Parties
      
      
         Applicants: HSBC Holdings plc (London, United Kingdom), HSBC Bank plc (London), HSBC France (Paris, France) (represented by: K. Bacon QC, D. Bailey, Barrister, M. Simpson, Solicitor, and Y. Anselin and C. Angeli, lawyers)
      
         Defendant: European Commission (represented by: M. Farley, B. Mongin and F. van Schaik, acting as Agents, and B. Lask, Barrister)
      
         Re:
      
      Application pursuant to Article 263 TFEU seeking, first, annulment in part of Commission Decision C(2016) 8530 final of 7 December 2016 relating to a proceeding under Article 101 TFEU and Article 53 of the EEA Agreement (AT.39914 — Euro Interest Rate Derivatives) and, second, a variation of the amount of the fine imposed on the applicants.
      
         Operative part of the judgment
      
      The Court:
      
                  1.
               
               
                  
                     Annuls Article 2(b) of Commission Decision C(2016) 8530 final of 7 December 2016 relating to a proceeding under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39914 — Euro Interest Rate Derivatives (EIRD));
                  
               
            
                  2.
               
               
                  
                     Dismisses the action as to the remainder;
                  
               
            
                  3.
               
               
                  
                     Orders HSBC Holdings plc, HSBC Bank plc and HSBC France to bear their own costs;
                  
               
            
                  4.
               
               
                  
                     Orders the European Commission to bear its own costs.
                  
               
            
         (1)  OJ C 112, 10.4.2017.