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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)

ECLI:EU:UNKNOWN:62017TA0105

62017TA0105

September 24, 2019
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Official Journal of the European Union

C 413/41

(Case T-105/17) (<span class="super note-tag">1</span>)

(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.

(<span class="note"> <a id="ntr1-C_2019413EN.01004101-E0001" href="#ntc1-C_2019413EN.01004101-E0001">*1</a> </span>) OJ C 112, 10.4.2017.

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