UBS Group and UBS v Commission (Obligations d’État européennes)

Cases T‑441/21, T‑449/21, T‑453/21, T‑455/21, T‑456/21 and T‑462/21(publication by extracts)UBS Group AG and Othersv European Commission Judgment of the General Court (Fifth Chamber, Extended Composition) of 26 March 2025( Competition – Agreements, decisions and concerted practices – European Government Bonds sector – Decision finding an infringement of Article 101 TFEU and Article 53 of the EEA Agreement – Coordination of prices and bond-trading activities – Exchanges of commercially sensitive information – Single and continuous infringement – Restriction of competition by object – Legitimate interest in finding of infringements – Calculation of the amount of the fine – Basic amount – Proxy for value of sales – Unlimited jurisdiction )1.      Judicial proceedings – Publication of decisions – Duty of the EU judicature to ensure a fair balance between making decisions public and the right to protection of personal data and of business secrets – Application for omission of certain data vis-à-vis the public – Criteria for assessment(Art. 15 TFEU; Rules of Procedure of the General Court, Arts 66 and 66 a)(see paragraphs 68-78)2.      Competition – Administrative procedure – Statement of objections – Necessary content – Commission decision finding an infringement – Decision not identical to the statement of objections – Narrowing of the material scope of an undertaking’s participation in the infringement found – Narrowing that does not result in an infringement different from...