Commission carries out unannounced antitrust inspections in the financial services sector

The European Commission is carrying out unannounced antitrust inspections at the premises of companies active in the financial services sector in two Member States.

The Commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the European Economic Area ('EEA') Agreement).

The products concerned by the inspections are financial derivatives.

The Commission officials are accompanied by their counterparts from the relevant national competition authorities of the Member States where the inspections are conducted.

Unannounced investigations are a preliminary investigatory step into suspected anticompetitive practices. The fact that the Commission carries out such inspections does not mean that the companies are guilty of anticompetitive behaviour nor does it prejudge the outcome of the investigation itself.

There is no legal deadline to complete inquiries into anticompetitive conduct. The duration of the investigation depends on a number of factors, including the complexity of each case, the extent to which the companies concerned cooperate with the Commission and the exercise of their rights of defence.