MANAGING AND MITIGATING ANTI-CARTEL RISK
R&C: Could you provide an overview of the most significant developments in global cartel enforcement over the past 12 months or so? How would you describe enforcement activity levels – including cross-border collaboration and extraterritorial reach – during this period?
Beighton: Enforcement activity appears to have increased, with factors contributing to this including a higher number of leniency applications and greater cooperation between authorities across jurisdictions. For example, since January 2023, authorities have cooperated in the context of investigations into suspected competition law infringements in relation to construction chemicals, which involved the UK’s Competitions and Markets Authority (CMA), the US Department of Justice (DOJ) and the European Commission (EC) working alongside the Turkish competition authority, as well as investigations into fragrances and fragrance ingredients, with the CMA, the DOJ and the EC working in conjunction with the Swiss competition authority. These investigations are taking place against the backdrop of ongoing parallel investigations by the CMA and the EC that commenced in March 2022, and, more recently, by the Korean competition authority into suspected competition law infringements in the automotive sector. Publicising the extent of these interagency cooperations in and of itself may be expected to have a destabilising effect on cross-border cartels, which in turn could lead to further leniency applications.
Apr-Jun 2024 Issue
Gowling WLG (UK) LLP
Skadden, Arps, Slate, Meagher and Flom LLP
WilmerHale