Japan's Leniency Program Silences Critics

Law360, New York (November 7, 2006, 12:00 AM EST) -- The Japanese competition authority has defied expectations with its recently minted leniency program by encouraging dozens of companies to come forward with information about bid-rigging and cartels, according to an official at the Japan Fair Trade Commission.

Since January, when the new law took effect, about 60 firms have applied for immunity from fines and prosecution after revealing involvement in the targeted schemes, according to Toshiyuki Nanbu, director of the JFTC’s International Affairs Division.

Nanbu told Competition Law360 that corporate eagerness to come clean under the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.