European cartel fines in 2018
Competition Law Insights, 2019
Case’s annual survey of European Commission cartel fines has been published. The European Commission completed four investigations in 2018 comprising five cartels/infringements. Aggregate fines of euro 800 million were imposed after leniency and settlement discounts. The Commission undertook two ‘dawn raids’, commenced one proceeding and issued one Statement of Objections. Fines were lower than in previous years. The Commission’s targeting of the automotive sector continued.
Article shortlisted for Antitrust Writing Award
Cento Veljanovski’s article Credit Cards, Counterfactuals and Antitrust Damages was shortlisted as one of the best article on antitrust in the 2019 Antitrust Writing Awards organised by Concurrences Review and the George Washington University Law School Competition Law Center. The article appeared in the Journal of European Competition Law & Practice.
Comments on EU Draft Pass-on Guidelines
Response to European Commission’s consultation
Cento Veljanovski’s submitted a response to the European Commission’s consultation on its draft Guidelines for national courts on how to estimate the share of overcharge which was passed on to indirect purchasers. In summarising his detailed assessment Cento concludes:
“In my view the draft Guidelines do not adequately achieve their stated purpose. They are strong on economic principles, theory and descriptions of some quantitative methods, cover data requirements and disclosure reasonably well, but do not offer real practical guidance that would enable a generalist judge to assess the proposed quantitative methods and conflicting expert opinions; nor do they guide the court in how in the absence of data and evidence and/or conflicting evidence to estimate pass-on.’