Press Release: Ombudsman criticises cartel investigation comments

European Ombudsman Emily O’Reilly told the European Commission to issue guidelines on public statements made by Commissioners on ongoing investigations.

She found that statements by former Competition Commissioner Joaquín Almunia about an ongoing cartel investigation involving the French bank Crédit Agricole created a public impression of bias, that the former Commission had already reached a conclusion about the bank’s alleged participation in the cartel before the investigation was complete.

ESO: Background information: Antitrust: Commission fines banks €1.71bn for participating in cartels in the interest rate derivatives industry http://www.europeansources.info/record/press-release-antitrust-commission-fines-banks-e1-71bn-for-participating-in-cartels-in-the-interest-rate-derivatives-industry/

EurActiv, 13.03.15: Commission told to apologise over Euribor rate-ringing inquiry http://www.euractiv.com/sections/euro-finance/commission-told-apologise-over-euribor-rate-ringing-inquiry-312871

EUObserver, 13.03.15: EU told to apologise to Credit Agricole over market rigging probe https://euobserver.com/economic/127986

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