Mon Sep 23 23:15:55 UTC 2024: ## EU Antitrust Regulators Launch Surprise Inspections of Financial Services Companies

**Brussels, September 23, 2023** – The European Commission (EC) announced today that it has begun unannounced inspections at the premises of financial services companies in two unnamed EU member states. The inspections, which are being conducted jointly with national competition authorities, are focused on financial derivatives and their potential for anticompetitive practices.

The EC emphasized that the inspections are merely a preliminary step in an ongoing investigation and do not imply guilt on the part of the companies involved. The duration of the investigation will depend on its complexity, cooperation from the companies, and the exercise of their legal rights.

This news comes on the heels of several significant victories for the EC in its fight against anticompetitive behavior. Just last week, the European Union Court of Justice upheld the EC’s rulings against Apple and Google, affirming its 2016 decision that Ireland granted Apple unfair tax benefits and its antitrust case against Google Shopping. These rulings are considered a major win for fair competition and tax justice.

Additionally, the EC has initiated proceedings to ensure Apple complies with the interoperability standards of the Digital Markets Act. These proceedings focus on Apple’s iOS connectivity features and its process for addressing interoperability requests from developers and third parties.

The EC’s recent actions demonstrate its commitment to ensuring a fair and competitive market environment within the European Union, especially in the dynamic sectors of finance and technology. While the details of the ongoing investigation remain shrouded in secrecy, its potential impact on the industry and the future of financial services in Europe cannot be underestimated.

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