www.mediafax.ro/economic/consiliul-concurentei-a-c

The Bucharest Court of Appeal rejected CEC Bank's request to suspend the Competition Council's decision that fined ten banks over 700 million euros for manipulating the ROBOR rate. This ruling marks the first in a series of ten lawsuits filed by banks against the Competition Council's penalties. The fines, totaling 3.73 billion lei, were imposed for violating competition laws by coordinating behavior during the ROBOR fixing process. The banks have one month to pay the fines if the suspension is denied. The investigation began in late 2022 and involved inspections to determine potential collusion among the banks.