Banks Receive Follow-Up EC Questionnaire on RIC Code
The EC launched formal proceedings against Thomson Reuters in November, several months after certain European banks received the first questionnaire on the RIC (Inside Reference Data, October 2009). A spokesperson at the EC says the Commission has opened the proceedings on RIC, and is “currently pursuing a market investigation on this matter.”
In December, the EC distributed a second questionnaire to data consumers, and several questions are the same or similar as the questions in the last questionnaire. The new survey that banks have to return by mid-January includes 45 questions, 19 of which are focused on switching from Thomson Reuters to an alternative provider.
Thomson Reuters received a questionnaire from the EC in early November, and the company is aware that customers have also received a questionnaire from the EC, according to a company spokesperson: “Thomson Reuters will fully cooperate with the European Commission's investigation which is at a preliminary stage.”
The full version of this story will appear in Inside Reference Data, January 2010.
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