ON THE SCOPE FOR THE EUROPEAN COMMISSION'S 2006 FINING GUIDELINES UNDERTHE LEGAL MAXIMUM FINE

Iwan Bos and Maarten Pieter Schinkel

Journal of Competition Law and Economics, 2006, vol. 2, issue 4, 673-682

Abstract: By relating antitrust fines explicitly to the value of affected commerce, the 2006 fining guidelines reaffirm the European Commission's commitment to deterring competition law infringement. We show that the legal maximum fine specified in Article 23(2) of Regulation 1/2003 seriously constrains the Commission in reaching this objective, however. The maximum fine will be binding the calculated fine for low ratios of affected EEA commerce over total worldwide turnover. Therefore, there is little scope for the Commission to apply its new fining method effectively.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:oup:jcomle:v:2:y:2006:i:4:p:673-682.

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Journal of Competition Law and Economics is currently edited by Nicholas Economides, Amelia Fletcher, Michal Gal, Damien Geradin, Ioannis Lianos and Tommaso Valletti

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