The German Federal Cartel Office releases new and more stringent fining guidelines
On 25 June 2013, the German Federal Cartel Office (FCO) released new fining guidelines for competition law infringements. The new fining guidelines implement the German Federal Court of Justice’s recent decision, in which it overturned the current interpretation of Section 81(4), subsection 2 of the German Act Against Restraints of Competition (GWB) as the applicable 10 per cent ‘cap’ on the total amount of fines linked to consolidated worldwide turnover. The court reinterpreted the 10 per cent turnover threshold, instead, as the maximum level of a ‘range’ within which fines could be set…
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