TalkingPoint: Preparing For A Dawn Raid

FW moderates a discussion on preparing for a dawn raid between Satnam Tumani, a partner at Kirkland & Ellis International LLP, Bernhard Lauterburg, counsel at Prager Dreifuss AG, and Agnes Quashie, a partner at PricewaterhouseCoopers Legal LLP.

FW: How would you describe the risks and consequences that a company may face if it fails to respond effectively and appropriately to a dawn raid?

Tumani: Any failure to cooperate with an investigation can have significant consequences. Often, an authority, such as the European Commission, has the power to impose penalties wherever companies do not cooperate with, or obstruct, an investigation. Conversely, sometimes being prepared to provide assistance can result in a reduction to any fine. For example, if a company assists an authority and provides information regarding inappropriate behaviour, then there may be a reduction in ultimate fine to recognise this assistance. If the investigators are acting pursuant to a search