EU fines reduced if groups admit to cartels

The European Commission launched, October 2007, a public consultation on a package designed to allow for settlements of cartel cases where the parties not only acknowledge their involvement in the cartel and their liability for it but also agree to a faster and simplified procedure. The package consists of a draft Commission Notice and a draft Commission Regulation amending Regulation (EC) Nº 773/2004. Settlements would aim to simplify the administrative proceedings and could reduce litigation in cartel cases, thereby freeing resources to pursue more cases. The draft proposal would allow the Commission to impose a lower fine on parties who agreed to the settlement procedure. This initiative complements the recent review of the Leniency Notice (see IP/06/1705) and the revised fines Guidelines (see IP/06/857). Comments on the package of documents should be made by 21st December 2007). Following these comments a revised proposal will be prepared, in consultation with Member State competition authorities, for final adoption in 2008.

European Commission: Press Release: IP/07/1608: Antitrust: Commission calls for comments on a draft legislative package to introduce settlement procedure for cartels http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1608&format=HTML&aged=0&language=EN&guiLanguage=en

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