Press Release: Antitrust: Commission sends statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation

On 1 July 2013, the European Commission informed some of the world's largest investment banks of its preliminary conclusion that they infringed EU antitrust rules that prohibit anti-competitive agreements by colluding to prevent exchanges from entering the credit derivatives business between 2006 and 2009.

• Primary Source

European Commission: Rapid: MEMO/13/632: Antitrust: Commission sends statement of objections to 13 investment banks, ISDA and Markit in credit default swaps investigation – Frequently Asked Questions http://europa.eu/rapid/press-release_MEMO-13-632_en.htm

European Commission: Rapid: SPEECH/13/593: Statement on CDS (credit default swaps) investigation http://europa.eu/rapid/press-release_SPEECH-13-593_en.htm

EUObserver, 02.07.13: Banks rigged €10 trillion derivatives market, Brussels says http://euobserver.com/economic/120714

BBC News, 01.07.13: EU says banks blocked competition in derivatives market http://www.bbc.co.uk/news/business-23128361

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