EU Says It Left JFTC Out Of Switchgear Cartel Loop

Law360, New York (April 14, 2008, 12:00 AM EDT) -- Europe's competition regulator has reportedly admitted that it failed to tell its counterparts at the Japan Fair Trade Commission about a power station switchgear cartel involving 11 Japanese and European companies.

Japan's Yomiuri Shimbun newspaper reported on Tuesday that the European Commission said it forgot to notify the JFTC about the matter, despite agreeing to do so in a July 2003 international deal for cooperation between countries.

During the two years and eight months in which the E.C. was involved in investigating the companies and determining...
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.