Allen & Overy reveals hefty fines for cartel enforcers in first half of 2013
Allen & Overy has revealed that some of the most prominent cartel enforcers have obtained fines totalling €507m (£432m) globally for the first half of 2013.
Antitrust authorities in Japan, the US, Canada, Brazil and South Africa have handed out hefty fines. However, the pace so far is not on track to hit 2012’s €3.95bn mark.
Despite the slow start, Allen & Overy predicts that fine levels will rebound towards the end of the year as global investigations into LIBOR and auto parts progress.
Allen & Overy also expects that in 2013 authorities will continue seeking harsher penalties against conspirators and will improve overall detection of cartel activity.
News from The Lawyer
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.