2012 year-end criminal antitrust & competition law update
The past year marked record-level global criminal competition law enforcement. The level of fines imposed continued its upward trajectory, with authorities in the US, Europe, China, and India imposing record sanctions. The U.S. Department of Justice obtained more than $1.35 billion from criminal antitrust offenders during FY 2012, its highest annual total to date. That includes an estimated $1.13 billion in criminal fines and nearly $220 million in restitution, penalties, and disgorgement paid to state and federal agencies. The $1.13 billion in criminal fines exceeds the previous high of $1 billion from FY 2009 and reflects continued success by the Department of Justice, Antitrust Division in targeting hard-core international and domestic cartels.
Click on the link above to download this Gibson Dunn & Crutcher briefing.
News from The Lawyer
Briefings from Gibson Dunn & Crutcher
On 23 October 2012, the United Arab Emirates enacted its Federal Competition Law (Federal Law No. (4) of 2012), which laid down new rules on anti-competitive agreements, merger control and abuse of dominance.
In retrospect, 2012 likely will be remembered as another year of manifold challenges in the Eurozone and of slow consolidation rather than one of fundamental reform or renaissance.