The proceedings began with a leniency application by Barclays.
In view of investigating the relevant facts and among other measures, the AdC conducted dawn-raids in 25 locations belonging to 15 banks, in the terms foreseen in article 18.º, n.º 1, c), of Law n.º 19/2012.
Subsequently to the dawn raids, one of the investigated banks (Caixa Económica Montepio Geral) applied for leniency and provided the AdC with additional information regarding the practice of exchange of information.
The AdC notified the Statement of Objections (SO) to the undertakings concerned so as to allow the exercise of their rights of defence.
The undertakings replied to the SO and requested oral hearings as well as interim measures.
After analysing the evidence in the file, the replies to the SO, the oral hearings and the interim measures, the AdC confirmed the infringement by the undertakings concerned as described in the SO and issued a prohibition decision concluding that the undertakings concerned were involved in an exchange of sensitive and confidential information, for over a decade, regarding mortgage, consumer and corporate credit, which constitutes a concerted practice among competitors (i.e. an informal coordination among companies which substitutes the uncertainty of competition by a conscientious practical cooperation), an infringement to Article 9 of Law n.º 19/2012 and/or Article 4 of Law 18/2003, as well as Article 101 TFEU.
Such behaviour constitutes an infringement punishable with a fine, as per articles 68.º and 69.º of Law n.º 19/2012, which may not exceed, for each undertakings concerned, 10% of its trade volume in the year immediately preceding the Decision. When determining the concrete fine, the AdC took into consideration the criteria foreseen in the referred legal provisions, and applied the Guidelines for the calculation of fines.
Concerning the application for leniency and fine reduction lodged by the undertaings, the AdC concluded the legal requirements were met for the granting of the leniency (Barclays) and 50% reduction (Montepio) of the fines applied.
In what regards NCG/Abanca, taking into consideration the date when its participation in the infringement ceased, as well as the time elapsed since, the AdC concluded that the limitation period of the sanctioning procedure had already elapsed.