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SEC Filing: MasterCard - Update on interchange investigations across Europe

( August 4, 2010, 15:28 GMT | Official Statement) -- MLex Summary: MasterCard has stated that the Italian Competition Authority (AGCM) issued a Statement of Objections in an antitrust case in May, and the card network has appealed a decision by the AGCM to reject undertakings offered. MasterCard also gives an update on proceedings in other European jurisdictions.European Union. On September 25, 2003, the European Commission issued a Statement of Objections challenging MasterCard Europe’s cross-border default interchange fees. On June 23, 2006, the European Commission issued a supplemental Statement of Objections covering credit, debit and commercial card fees. On November 14 and 15, 2006, the European Commission held hearings on MasterCard Europe’s cross-border default interchange fees. On March 23, 2007, the European Commission issued a Letter of Facts, also covering credit, debit and commercial card fees and discussing its views on the impact of the IPO on the case. MasterCard Europe responded to the Statements of Objections and Letter of Facts and made presentations on a variety of issues at the hearings....

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