Cartel Settlement Package Adopted: At the Low End of Expectations

Introduction

On 30 June 2008, the European Commission adopted the legislative package on Cartel Settlement. The package consists of a Commission regulation and a notice, and its aim is to speed up cartel proceedings in the European Union. The Commission seeks to free up administrative resources to prosecute more cartels, reduce the backlog of pending investigations and curb the number of appeals lodged by the parties before the Court of First Instance.

Undertakings under investigation will receive a 10% rebate on their fines as compensation for formal acknowledgement of their participation in an infringement of Article 81 of the EC Treaty before the Commission begins drafting its Statement of Objections ("SO").