Category: Global Antitrust + Competition
Scott+Scott responds to Sherman Joyce’s Law360 guest article, “Gov’t Opioid Suits Hide Attorney’s Personal Interests.”
New York’s banking regulator said Tuesday that Standard Chartered Bank will pay $40 million to resolve claims that it participated in a scheme to rig foreign exchange benchmark rates.
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Banks Accused Of Rigging Libor After Post-Scandal Overhaul
Putnam Bank accuses the owner of the New York Stock Exchange of conspiring with some of the world’s largest banks to artificially deflate a key financial benchmark.
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Kodak Takes Antitrust Row With Goldman, Others To UK
Eastman Kodak Co. units file a claim in the High Court of Justice of England and Wales against Goldman Sachs, Glencore and others with a lawsuit accusing them of manipulating aluminum prices.
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Swipe Fee Ruling Opens Visa, MasterCard To Wave Of Claims
Three senior Court of Appeal judges ruled that Visa Inc. and MasterCard Inc. set the swipe fees, also known as interchange fees — the bank-to-bank charges levied on each credit card purchase — at an unlawful level that restricted competition.
Read More Visa and MasterCard interchange fees restricted competition, English court rules
Visa and MasterCard have lost appeals in their long-running battle against a host of retailers, as an English court found their multilateral interchange fee schemes restrict competition.
Read More US Fines HSBC $175m Over ‘unsound’ FX Trading
HSBC has been fined $175 million by the US Federal Reserve for failing to stop its traders from misusing confidential customer information and for telling competitors about their own trading positions.
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Standard Chartered is among five banks paying $111m over foreign-exchange rigging
Standard Chartered is among five banks that have collectively agreed to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market.
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Banks settle currency manipulation claims for $111m
Five more banks have agreed to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the financial industry.
Read More Visa, Mastercard Hit With More UK Swipe Fee Antitrust Claims
A group of London restaurateurs and private clubs, the Bourne Leisure travel group, and discount retailer Poundland have filed another round of competition claims in the UK against Visa and MasterCard over interchange fees.
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Watch Out Big Banks: The Claims Are Coming, And Here’s The Lawyer Who’s Bringing Them
After securing settlements of over $2 billion for people in the US who purchased foreign currency and foreign exchange instruments from big banks, David Scott, managing partner of Scott+Scott, has been assessing the appetite for similar claims in the EU.
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