EC Announces New Antitrust Violation Guidelines

On June 28, the European Commission (“EC”) announced new guidelines that would increase fines for antitrust violations. This decision is part of an effort by the EC to more severely punish cartel leaders, repeat offenders, and companies whose large financial reserves made a mockery of the old antitrust fine scheme. The new guidelines, which will not take effect for several months, will fine companies up to 30 percent or based on a percentage of the company's sales in whatever market the regulators found was illegally manipulated. Under the current EU rules, companies that are found to have serious antitrust offences are fined at least