The European Commission adopts a new Leniency Notice

The detection and punishment of illegal cartels are at the top of the European Commission's enforcement agenda. In 2001, the Commission meted out record fines in cartel cases totaling $ 1.6 billion, eclipsing the U.S. single-year record of $ 1.1 billion. Historically, the Commission's fabled « dawn raids » have been the most effective means at its disposal to uncover illegal activity. More recently, however, the Commission's leniency policy — which provides an incentive for participants to blow the whistle on cartel activities — has become an increasingly important tool in its enforcement arsenal. In February, the Commission amended its 1996 Notice on the Non-Imposition of Fines in Cartel Cases [1] to provide an even greater incentive for cartel members to break ranks. The new Notice

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Bernard Amory, Alexandre G. Verheyden, Stefano Macchi di Cellere, Tom D. Smith, Carsten Gromotke, Philip A. Proger, Joe Sims, The European Commission adopts a new Leniency Notice, 19 February 2002, e-Competitions February 2002, Art. N° 33853

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