Press Release: Antitrust: Commission introduces settlement procedure for cartels

The European Commission introduced a settlement procedure for cartels which will allow the Commission to settle cartel cases through a simplified procedure. Under this procedure, parties, having seen the evidence in the Commission file, choose to acknowledge their involvement in the cartel and their liability for it. In return for this acknowledgement, the Commission can reduce the fine imposed on the parties by 10%. Settlements aim to simplify the administrative proceedings and could reduce litigation before the European Courts in cartel cases. This will in turn free Commission resources to pursue other cases. The Commission analysed the 51 contributions received during the public consultation launched on 26th October 2007 and revised the package in consultation with the Member States' competition authorities. The legislative package consisted of a Commission Regulation together with a Commission Notice (the 'settlement notice') explaining the new system in detail. The settlements package will enter into force on the day of its publication in the EU Official Journal.

European Commission: Antitrust: Commission introduces settlement procedure for cartels – frequently asked questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/458&format=HTML&aged=0&language=EN&guiLanguage=en

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