In this issue:

Financial institutions are under regulatory scrutiny like never before, and competition authorities are front and center. Editorial Board Member Nicolas Petit has assembled a premier group of European experts to look at all areas of the attack: LiBOR; the potential conflicts between the EU and U.S. approaches; CDS Investigations; a case study of the British approach; debt-for-equity swaps; and a broad look at the EU focus. Enjoy!

Antitrust and Financial Regulations

Nicolas Petit, Aug 26, 2011

Credit Rating Agencies and Competition Law

Can CRAs recent downgrading of sovereign ratings trigger antitrust liability? Nicolas Petit & Norman Neyrinck (Univ. of Liege)

Rosa Abrantes-Metz, Jul 28, 2011

Libor Litigation and the Role of Screening: The Need for Enhanced Compliance Programs

Could the banks themselves have used screens to help avoid the current investigations some are now facing? Rosa Abrantes-Metz (AFE Consulting)

Todd Fishman, Olivier Fréget, David Gabathuler, Jul 28, 2011

U.S. And EU Antitrust Enforcement: What Role In A More Heavily Regulated Financial Sector?

At least in the EU and the United States, there is no consensus on whether unfettered competition in the banking sector will produce an optimal outcome in terms of financial stability. Olivier Fréget, Todd Fishman, & David Gabathuler (Allen & Overy)

Thibault Balthazar, Bruno Lebrun, Jul 28, 2011

The European Commission’s CDS Investigations: How to Balance Stability and Competition in the Financial Sector?

The recent financial crisis is thus likely to enhance the enforcement of antitrust rules in financial services that have not been subject to much scrutiny so far. Bruno Lebrun & Thibault Balthazar (UGGC & Associes)

Emanuela Lecchi, Jul 28, 2011

Financial Services And Competition Law In The United Kingdom: The Quest For Pro-Competitive Objectives And Suitable Tools

Objectives, duties, and factors have little meaning if a regulator does not have the powers to pursue them. Emanuela Lecchi (Watson, Farley & Williams)

Paolo Palmigiano, Josh Sherer, Jul 28, 2011

Corporate Restructurings, Debt-for-Equity Swaps: Competition Law Perspectives

At a time when restructurings are prevalent, we suggest that thought might be given to possible changes to the application of suspensory obligations for debt-for-equity deals. Paolo Palmigiano & Josh Sherer (Lloyds Banking Group)

Katarzyna Czapracka, Mark Powell, Jul 28, 2011

Recent EU Antitrust Investigations into Financial Services”What Is the Scope for Antitrust Intervention?

Financial institutions need to be aware that they are in the spotlight and make antitrust compliance a priority. Mark Powell & Katarzyna Czapracka (White & Case)