Thursday, March 24, 2011
Posted by D. Daniel Sokol
Cento Veljanovski, Case Associates discusses Deterrence, Recidivism and European Cartel Fines.
ABSTRACT: Based on an analysis of cartel prosecutions since 2007, the way the Commission has built up its fines in practice is assessed. The fines are compared with those imposed by the Commission during 1999-2006. The main findings are that while fines have increased significantly, this is due to less generous reductions of fines under the Commission’s leniency programme. Further, the Commission has not followed the guidelines – fines are generally lower than set out in the guidelines, and it has been overly generous to recidivists setting the fines low and ignoring over 70% of prior convictions.