fines
Subscribe to fines's Posts

Cartel Snapshot

The second quarter of 2018 proved to be an active one with a number of US Department of Justice (DOJ) investigations resulting in criminal charges against individual executives. However, the DOJ’s total criminal fines still fall below the highs reached in 2014 and 2015. In this period, the European Commission made one notable cartel decision, imposing fines on eight Japanese manufacturers of capacitors. McDermott’s Cartel Snapshot presents the latest information about active antitrust investigations to inform defense representatives, in-house counsel and agency regulators of the latest compliance risks and private actions. Our highly rated team of competition lawyers has selected the most relevant US and EU cartel matters to support risk management assessments for international cartel defense and to provide insights for legal and business planning. Read full article. 

Continue Reading

Recent Judgments Illustrate How the European Commission Can Correct Its Errors Post-Annulment

As a general proposition, when the validity of a European Commission antitrust decision is challenged before the General Court of the European Union (GCEU), the procedure is one of judicial review, not a retrial on the merits (although the GCEU does have special jurisdiction to increase or reduce the amount of any fine). Thus there are only three possible outcomes: annulment of the Commission’s decision; variation in the amount of any fine, upwards or downwards; or rejection of the challenge altogether. In the case of annulment, Article 266 of the Treaty on the Functioning of the European Union requires that the Commission “take the necessary measures to comply with the judgment” of the GCEU. Provided that the limitation period has not expired, the Commission may take a new decision on the case, taking care to avoid the illegalities identified by the GCEU in respect of the first decision. The new decision can be different from the first decision, as...

Continue Reading

2014 Cartel Penalties On Pace to Set Record

Global antitrust regulators are on pace to levy record-breaking cartel penalties in 2014.  If global regulators keep pace, cartel penalties will surpass 2013’s record total.  Through June, U.S. antitrust regulators issued fines totaling $709 million (USD), while European regulators imposed fines of $1.95 billion. The record-breaking fines are the result of global regulators more actively enforcing antitrust and competition laws.  While the U.S. and Europe have been rigorously investigating cartel activity, Russia and many Asian countries have also seen a noticeable uptick in activity.  To date, China has levied $36.3 million in fines, and Japan and South Korea are considerably ahead of the pace needed to exceed 2013 totals.  If the current rate continues through the second half of 2014, global regulators are likely to hit all-time highs by the end of the year, especially considering that many large fines are frequently handed out near year’s end. In addition...

Continue Reading

German Regulator Steps Up Enforcement of Merger Standstill Obligation

by Martina Maier and Philipp Werner The majority of merger control regimes around the world impose standstill or waiting period requirements for notifiable transactions, e.g. the US, the EU and most EU Member States. If a transaction meets the filing thresholds, it must be notified to the competent antitrust regulator and must not be closed without prior approval by the antitrust regulator or the expiration of the applicable waiting period. Under German merger control rules, a notifiable merger must not be implemented without prior clearance decision. An infringement of the standstill obligation can (theoretically) lead to fines of up to 10 percent of the group's worldwide turnover. In addition, the infringement of the standstill obligation renders the contracts ineffective under German merger control rules. The German Federal Cartel Office (FCO) has recently taken a stricter approach to the enforcement of the merger standstill obligation. In the past, the...

Continue Reading

China Auto Dealers Association Files Anti-Monopoly Complaint Against Beijing Benz

by Henry L.T. Chen, Frank Schoneveld and Michael Xu The China Automobile Dealers Association recently issued a formal complaint to Mercedes-Benz Beijing regarding its allegedly illegal “double limit” policy for car dealers—minimum prices and restrictions on sales into other dealers` territories—revealing tension between a widespread industry practice and China’s Anti-Monopoly Law.  To read the full article, please visit: http://www.mwechinalaw.com/news/2011/chinalawalert0411a.htm.

Continue Reading

First Cartel Fines in China Following New Regulations

by Henry L.T. Chen and Frank Schoneveld China’s State Administration for Industry and Commerce has imposed the first fines for violation of the country’s Anti-Monopoly Law on a concrete cartel.  The swift action indicates business operators should anticipate more widespread and vigorous investigations by the newly empowered Chinese competition regulatory authorities. To read the full article, please visit:  http://www.mwechinalaw.com/news/2011/chinalawalert0211c.htm.  

Continue Reading

STAY CONNECTED

TOPICS

ARCHIVES