Cartel Liability Can Extend To Parent Cos., EU Adviser Says

Law360, New York (November 29, 2012, 6:47 PM EST) -- A chief legal adviser to Europe's highest appeals court said Thursday that a parent company can be held liable for the cartel activity of its subsidiaries regardless of whether the parent actually conducts business itself.

Advocate General Juliane Kokott told the European Court of Justice that the imputation of responsibility to parent companies for antitrust violations should not rely on the ownership group qualifying as an 'undertaking' under EU competition law, but rather that parent and infringing subsidiary form a single entity.

The advocate-general's recommendation came...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.