On 18 December 2025, the Supreme Court handed down judgment in Evans v Barclays Bank and others [2025] UKSC 48 (“Judgment”), reversing the Court of Appeal  and reinstating the refusal of the Competition Appeal Tribunal (the “Tribunal”) to certify, on an opt-out basis, collective competition law proceedings brought in relation to FX collusion found by the European Commission (“Commission”) to infringe Article 101 TFEU.

The Judgment was keenly anticipated by the competition litigation community.  It is the third judgment of the Supreme Court in relation to the operation of the collective regime, after Merricks and PACCAR, and, like those earlier cases, will have a significant impact on the certification process created by sections 47A-47C of the Competition Act 1998 (“CA98”) and the Competition Appeal Tribunal Rules 2015 (“the Tribunal Rules”).

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