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The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined National Australia Bank Group subsidiary Clydesdale Bank (Clydesdale) £8.9 million for "failing to inform its customers clearly of their rights after ... miscalculat[ing] the repayments on over 42,500 mortgages".

Published in Consumer Protection

Germany-based automaker Daimler has announced that the "H2 Mobility" initiative partners comprising Air Liquide, Daimler, Linde, OMV, Shell and Total have established an "action plan for the construction of a nationwide hydrogen refuelling network for fuel cell powered electric vehicles".

The United States (US) Office of the Comptroller of the Currency (OCC), the United Kingdom Financial Conduct Authority (FCA), the US Securities and Exchange Commission (SEC) and the US Federal Reserve board (FRB) have announced respectively that JPMorgan Chase & Co (JP) has agreed to pay US$300 million, £137,610,000 (US$220 million), US$200 million and US$200 million as part of a global settlement in relation to the so-called London Whale trades.

Published in Financial Integrity

The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined ICAP Europe Ltd (ICAP) £14 million in the first penalty to be handed to a brokerage firm in relation to manipulation of the benchmark interest rate known as Libor.

Published in Financial Integrity

MasterCard and Visa Agree to Reduce Interbank Fees

26 Sep 2013
Written by World Watch

French competition regulator the Autorité de la concurrence (the Autorité) has announced that credit card firms MasterCard and Visa have agreed to "significant[ly] reduc[e]" certain fees from 1 November 2013 in response to antitrust proceedings initiated by the Autorité.

Published in Competition

EC Speech - Competition Policy and Innovation

19 Sep 2013
Written by World Watch

The European Commission (EC) has made available a speech given by EC competition policy commissioner Joaquin Almunia at the International Bar Association 17th Annual Competition Conference on "how the enforcement of competition law in the [European Union] can help create optimal conditions for innovation to flourish".

Published in Competition

A United States (US) Court has approved a settlement under which UBS Securities Japan Co (UBS Securities Japan) has agreed to pay a US$100 million criminal penalty after pleading guilty to wire fraud in relation to its part in manipulating the London Interbank Offered Rate (Libor), a benchmark interest rate.

Published in Financial Integrity

Firms Settle Sanctions Regulations Breaches

19 Sep 2013
Written by World Watch

The United States Department of the Treasury has released enforcement information regarding various trade sanction regulations.

Published in Anti-Money Laundering

The United States (US) Department of Justice (DoJ) has announced that G.S. Electech Inc executive Shingo Okuda has been indicted for allegedly fixing prices and rigging bids of automotive parts used on antilock brake systems (ABS) in certain cars sold in the US, in breach of the Sherman Act.

Published in Competition

The United States Department of Justice (DoJ) has announced that Assistant Attorney General Bill Baer has welcomed the District Court for the Southern District of New York's Order addressing Apple's anticompetitive conduct in the retail market for e-books.

Published in Competition

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