Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Brexit definition

What does Brexit mean? Brexit is the practical shorthand in legal drafting and advice for the United Kingdom’s withdrawal from the European Union and the legal, regulatory and trading changes flowing from it. It covers the UK’s cessation of EU membership on exit day (31 January 2020) and the cessation of the EEA Agreement’s application, the end of the implementation/transition period on IP completion day (31 December 2020), and the commencement, expiry or variation of post‑withdrawal trading and regulatory arrangements, including the UK‑EU Trade and Cooperation Agreement, the Windsor Framework (amending the Northern Ireland Protocol), and UK agreements with third countries...

UK and EU competition law for in-house banking and finance lawyers: information exchange, dominance, merger control, State aid, UK subsidy control, EU foreign subsidies and FCA powers

Published by a LexisNexis Banking & Finance expert

Practice notes

Practice Note

This Practice Note offers an overview of the principal aspects of competition law, tailored for in-house banking and finance counsel. Firms should implement robust policies and procedures to prevent breaches, alongside ongoing training for any teams likely to face competition law matters, with regular refreshers for relevant personnel. Where no internal expertise exists, institutions ought to seek advice from an external competition law team to verify compliance, ensure the institution is not in breach, and to help establish appropriate policies and procedures. The banking industry has also faced heightened scrutiny following enforcement by the European Commission. These actions underline the importance of proactive compliance across the sector. In 2021, for instance, the Commission levied substantial fines on banks in the following matters:

Euro interest rate derivatives (AT.39914)
Yen interest rate derivatives (AT.39861)
Foreign exchange spot trading (AT.40135)
European Government Bonds (AT.40324)
US Dollar supra-sovereign, sovereign and agency bond trading (AT.40346)

In 2022, the European Commission also imposed fines on banks for exchanging commercially sensitive information and for coordinating trading/pricing strategies in Euro-denominated bonds trading (AT.40512). This Practice Note is intended to introduce the main areas of EU and UK competition law and to flag key topics within the institution...

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Web page updated on 22/05/2026

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