Criminal antitrust fines top $1bn mark again in 2013
The Antitrust Division obtained more than $1.02bn (£630m) in criminal fines in fiscal year 2013 (October 2012–September 2013), which officially closed yesterday. Fiscal year 2013 marks the second year in a row that the division has eclipsed $1bn in fines, but only the third time in the history of the now 123-year-old Sherman Act that fines have exceeded that threshold.
The Antitrust Division’s investigations into collusion surrounding LIBOR and into price fixing and bid rigging in the auto-parts sector dominated the criminal antitrust enforcement agenda in fiscal year 2013. The fines imposed in these investigations accounted for nearly 99 per cent of the fiscal year total.
This year’s fine total is due in large part to a group of plea agreements in the auto-parts investigation inked in the final days of the fiscal year, which yielded a total of $740m (£457m) in criminal fines…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from Allen & Overy
News from The Lawyer
Briefings from Allen & Overy
Money purchase deconstructed: working with the new definition — a checklist for trustees and administrators
The definition of money purchase benefits is changing, as are the rules on how schemes are required to deal with any benefit that becomes classified as a ‘non-money purchase’.
Despite the progress that has been made towards launching the European unitary patent system and the Unified Patent Court, Spain continues to actively oppose the changes.
Analysis from The Lawyer
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.