Competition law compliance has become increasingly important in the banking industry as the number of infringements and the associated fines imposed by the European Commission are rising. This article shows that not only governments and regulators, but also shareholders and managers, should be...

Privacy and antitrust? Isn't antitrust only supposed to be concerned with price? Well, no. Antitrust is actually about consumer choice, and price is only one type of choice. The ultimate purpose of the antitrust laws is to help ensure that the free market will bring to consumers everything they...

This paper analyzes and measures the value that American private banks added as directors of non financial companies. Using data between 1874 and 1913, and an event study from 1906, I find that bank directors added about 20% of a firm's market capitalization. Collusive practices encouraged by...

In light of The People of California. v. Wells Fargo Bank, N.A., this analysis suggests that banking sales practices that incorporate impermissible forms of "bundling" are susceptible to tying claims under 12 U.S.C. § 1972, which does not require the Sherman/Clayton antitrust proofs of market...

The European market has been served by regulated and licensed e-money tokens (EMTs) since 2019, contradicting the claim that legal clarity is needed for EMTs. Despite the well-functioning e-money legislation, the EU Parliament will vote on a new regulation specifically for EMTs as part of the...

Reforms of financial regulation after the crisis of 2007-2009 raise the question of what is the relation between financial regulators and competition authorities. Should competition authorities play a role in financial regulation? Should they co-operate with financial regulators? Or should they...

We find that stricter merger control legislation increases abnormal announcement returns of targets in bank mergers by 7 percentage points. Analyzing potential explanations for this result, we document an increase in the pre-merger profitability of targets, a decrease in the size of acquirers...