The principal sanction available to the Commission and to national competition authorities (NCA) for infringements of the competition rules is the imposition of fines. In the UK a fine levied on the undertakings concerned is supplemented by the possibility of director disqualification, fines and imprisonment for the individuals who instigate and manage the cartels.
Tom Sharpe QC is a barrister specialising in antitrust, regulatory and commercial judicial review in the English, European and Hong Kong Courts. He acts for MasterCard in the European Courts, Competition Appeal Tribunal and the High Court in London. He has an extensive energy, water and telecommunications practice and regularly challenges or defends the decisions of the regulators in the English courts. Until 1988 he was a fellow of Wolfson and Nuffield Colleges, Oxford and taught competition. He is on the editorial board of the European Competition Journal and chairs the ESRC Centre for Competition Policy at the University of East Anglia.
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I) Introduction It is a pleasure to be invited to contribute a foreword to this Special Edition on the topic of the mitigation of fines. It is an interesting area of law in relation to which there is a wealth of comment and analysis available through www.concurrences.com. We do not pretend (...)
There are approximately 45 private actions for damages pending in the United Kingdom Courts. Some are stayed pending final decisions of the Commission and the European Courts; some are at the disclosure stage; some are setting up “confidentiality rings” prior to disclosure; and others are lost in (...)