EU Commission Targets Financial Services in Antitrust Probe

The European Commission has undertaken surprise antitrust inspections at financial services firms in two EU member states. The focus is on possible violations of EU rules against restrictive business practices, specifically relating to financial derivatives. Details on the companies or countries involved have not been disclosed.

The European Commission has launched unexpected antitrust inspections at financial services companies located in two EU member states, the Commission announced in a statement on Monday.

According to the statement, the Commission is concerned that the inspected companies may be in breach of EU antitrust regulations that forbid restrictive business practices. While specifics regarding the companies and the exact countries involved were not disclosed, the inspections are centered around financial derivatives products.

The European Commission's actions underline its ongoing efforts to ensure fair competition within the financial sector across the European Union.

(With inputs from agencies.)