In a ruling dated December 2, 2021, the Paris Court of Appeals overturned a 2010 decision in which the French Competition Authority (the “FCA”) had fined 11 major French banks for colluding on check handling fees, possibly bringing the 11-year saga to an end. The ruling confirms that the concept of by-object restriction should be interpreted restrictively, in line with a judgment issued by the French Cour de cassation in the same case in 2020.



