Fresh impetus to the EU investigation in Credit Default Swaps

An ongoing EU antitrust probe into credit-default swaps market has received fresh impetus. There are press reports that EU officials are considering whether a revised antitrust charge sheet (a so-called Supplementary Statement of Objections) should be put to the investigated parties following a four-year long investigation.

In an article published by Bloomberg, Shepherd and Wedderburn partner and Head of Competition, John Schmidt, stated:  “The European Commission wouldn’t consider sending a new statement of objections if there wasn’t a hole in the case. If the EU goes ahead, that means the banks did a good job of closing down one door but not all doors.”

The full article can be found at Bloomberg