The largest investment banks, including Goldman Sachs, JP Morgan and Morgan Stanley, have beaten back charges from the European Commission that they colluded to stifle competition in the market for financial derivatives in the run-up to the financial crisis.

The Commission closed an antitrust case Friday against 13 investment banks that was focused on the market for credit default swaps. It continues to probe similar concerns against financial information provider Markit and the International Swaps and Derivatives Association.

It is unusual for the Commission to drop a case at this stage in the proceedings, said Jean-François Bellis, partner at law firm Van Bael & Bellis. “It happens, but it is rare.”

The Commission said its decision was “based on a thorough analysis of all information received from the parties in their replies and during the oral hearing of May 2014, as well as on documents obtained through additional fact finding. The evidence was not sufficiently conclusive to confirm the Commission’s concerns.”

Click Here: new zealand rugby team jerseys

None of the banks cooperated with the Commission in exchange for leniency, making the case harder to investigate.

The Commission opened the probe in 2011 and in 2013 accused the parties of agreeing to block Deutsche Börse and Chicago Mercantile Exchange from entering the market for credit default swaps between 2006 and 2009.

When charging the firms, the Commission took the unusual step of naming them: Bank of America Merrill Lynch, Barclays, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Royal Bank of Scotland and UBS.