ESCHBORN (dpa-AFX) - The European Commission Tuesday revealed that the antitrust watchdog has carried out unannounced inspections at the companies active in the financial services sector in two Member States.
According to reports, Deutsche Boerse and other financial services firms were under the scanner. The products concerned by the inspections are financial derivatives. The German stock exchange operator reportedly said it was fully cooperating with the probe.
The Commission said the inspected companies might have violated European Union antitrust rules that prohibit restrictive business practices under the article 101 of the Treaty and the article 53 of the European Economic Area Agreement.
The Commission officials are accompanied by their counterparts from the relevant national competition authorities of the Member States where the inspections are conducted.
According to the European Commission, the unannounced investigations were a preliminary investigatory step into suspected anticompetitive practices. The Commission has not set any legal deadline to complete inquiries into anticompetitive conduct.
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