Visa Fined €10.2M For Barring Morgan Stanley

Law360, New York (October 3, 2007, 12:00 AM EDT) -- A decision to bar investment bank Morgan Stanley from its membership network has cost Visa International €10.2 million, after the European Commission deemed the move anti-competitive and ordered the credit card company to pay a fine.

Regulators levied the fine on Wednesday, finding that “the exclusion of Morgan Stanley from Visa membership restricted competition in the provision of credit card acceptance services to merchants in the United Kingdom.”

“The payment cards industry plays a key role in the creation and functioning of the single market for...
To view the full article, register now.