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JPMorgan, Crédit Agricole cartel fines need EU lower court review, legal opinion says

( March 12, 2026, 10:01 GMT | Official Statement) -- MLex Summary: The EU's top court should send consideration of appeals by JPMorgan Chase and Crédit Agricole against EU fines imposed in 2016 for manipulating the Euribor benchmark rate and related trades back to a lower court, according to a non-binding opinion prepared for judges. EU Court of Justice Advocate General Nicholas Emiliou faulted the General Court for ignoring an amending decision by the European Commission in relation to the fines, but also for the way judges then recalculated the fines imposed on the banks. The AGO opinions are attached. The case references are Crédit Agricole and Crédit Agricole Corporate and Investment Bank v Commission C-191/24 P; and JPMorgan Chase and JPMorgan Chase Bank, National Association v Commission C-160/24 P....

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