Wednesday, July 11, 2012
Posted by D. Daniel Sokol
Thomas Franchoo and Marcus Pollard (both Linklaters) describe The Application of European Competition Law in the Financial Services Sector.
ABSTRACT: State aid control remains at the forefront of the European Commission's activity in the financial services sector, with a focus gradually shifting to monitoring the implementation of past decisions and the analysis of requested amendments. The Commission shows a growing impatience in respect of antitrust enforcement, pursuing commitment decisions under Article 102 TFEU and the opening of Article 101 TFEU investigations on inter-banking lending rates and e-payments standardisation. As regards merger control, the scene was dominated by the prohibition of the Deutsche Börse/NYSE merger after significant battles on the definition of the relevant market for financial derivatives.