ON THE SCOPE FOR THE EUROPEAN COMMISSION'S 2006 FINING GUIDELINES UNDERTHE LEGAL MAXIMUM FINE |
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| Authors: | Bos, Iwan Schinkel, Maarten Pieter |
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| Affiliation: | Correspondence: ** Department of Economics and ACLE, Universiteit van Amsterdam, Corresponding author at: Roetersstraat 11, 1018 WB Amsterdam, The Netherlands. E-mail: m.p.schinkel{at}uva.nl. We thank Jakob Rüggeberg and Francesco Russo for discussions and comments to an earlier version of this paper. Andrea Günster, Eelko Ubels and Anita van den Berg provided valuable research assistance. Opinions and errors remain ours |
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| Abstract: | By relating antitrust fines explicitly to the value of affectedcommerce, the 2006 fining guidelines reaffirm the European Commission'scommitment to deterring competition law infringement. We showthat the legal maximum fine specified in Article 23(2) of Regulation1/2003 seriously constrains the Commission in reaching thisobjective, however. The maximum fine will be binding the calculatedfine for low ratios of affected EEA commerce over total worldwideturnover. Therefore, there is little scope for the Commissionto apply its new fining method effectively. |
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