Legislative Package on Settlement Procedure in Cartel Cases

On October 26, 2007, the European Commission published for public consultation a draft legislative package aimed at introducing a “settlement procedure” in cartel cases. The draft legislative package consists of a draft Commission Notice and a proposal for a Commission Regulation. The public consultation is scheduled to last until December 21, 2007, and the Commission intends to adopt the legislative package in 2008. The settlement procedure would apply in cases where the parties subject to a Commission cartel investigation are prepared to acknowledge their participation in the infringement, waive certain rights of defense, and accept liability in exchange for a fine reduction.