EC Enacts Cartel Settlement Plan

Law360, New York (June 30, 2008, 12:00 AM EDT) -- The European Commission adopted a cartel settlement procedure on Monday that aims to cut the regulator's workload by giving companies the opportunity to resolve their cases early in exchange for a 10% discount on penalties.

The final settlement package did not stray far from the draft proposal the commission introduced last October. It did, however, finalize the exact fine deduction and give companies the option of admitting to wrongdoing orally instead of in a written document.

“This new settlements procedure will reinforce deterrence by helping the...
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