European Court of Justice clarifies circumstances in which financial institutions may exchange credit information without breaching competition law
Journal of Financial Regulation and Compliance
ISSN: 1358-1988
Article publication date: 22 February 2008
Abstract
Purpose
The purpose of this paper is to describe how The European Court of Justice's (ECJ) recent judgment in Asnef‐Equifax v. Ausbanc has clarified the circumstances in which financial institutions may exchange information regarding the solvency and creditworthiness of their clients without falling foul of competition law.
Design/methodology/approach
The paper outlines the background to the case, the judgment and provides a comment.
Findings
The judgment shows that in case of any doubt there is no substitute for a rigorous analysis of the affected market in light of the case law and general guidance from the Commission and national competition authorities, before engaging in any potentially controversial activity such as information exchange.
Originality/value
The paper provides insight into how financial institutions may exchange credit information without breaching competition law in the context of the ECJ judgment.
Keywords
Citation
Houwen, F. (2008), "European Court of Justice clarifies circumstances in which financial institutions may exchange credit information without breaching competition law", Journal of Financial Regulation and Compliance, Vol. 16 No. 1, pp. 108-110. https://doi.org/10.1108/13581980810853253
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited