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C series
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(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 - Failure to discharge the obligation to state reasons - Annulment in part of the decision by a judgment of the General Court - Amending decision - Fines - Limitation - Basic amount - Value of sales - Article 23(2) and (3) of Regulation (EC) No 1/2003 - Equal treatment - Proportionality - Unlimited jurisdiction)
(C/2025/544)
Language of the case: English
Applicants: HSBC Holdings plc (London, United Kingdom), HSBC Bank plc (London), HSBC Continental Europe (Paris, France) (represented by: M. Demetriou and D. Bailey, Barristers-at-Law, C. Angeli, M. Giner Asins and C. Chevreste, lawyers, and by M. Simpson, Solicitor)
Defendant: European Commission (represented by: T. Baumé, P. Berghe and M. Farley, acting as Agents)
By their action based on Article 263 TFEU, the applicants seek, first, the annulment of Article 1 of Commission Decision C(2021) 4600 final of 28 June 2021 amending 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) and the annulment of 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)), as amended, and, second, in the alternative, a reduction in the amount of the fine imposed on them in the 2021 Decision.
The Court:
1.Dismisses the action;
2.Orders HSBC Holdings plc, HSBC Bank plc and HSBC Continental Europe to pay the costs.
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Language of the case: English.
ELI: http://data.europa.eu/eli/C/2025/544/oj
ISSN 1977-091X (electronic edition)
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