Est. 1min 14-02-2002 (updated: 07-11-2012 ) Euractiv is part of the Trust Project >>> Languages: Français | DeutschPrint Email Facebook X LinkedIn WhatsApp Telegram The Commission has updated the conditions for leniency in the imposition of fines on corporate members of price-fixing and market sharing cartels. Read more with Euractiv Prodi calls for better cross-border diffusion of innovationThe President of the European Commission, Mr Romano Prodi, has called on Europe to capitalise on its strong academic and fundamental research capabilities by improving the cross-border diffusion of innovation. Mr Prodi spoke of the 'rebirth of the entrepreneur' and of the EU's efforts to address the barriers to entrepreneurship, and the gap between the EU and the US in this area. Subscribe now to our newsletter EU Elections Decoded Email Address * Politics Newsletters BackgroundThe European Commission has increased the incentives for corporate members of hard core cartels to blow the whistle on serious breaches of competition rules. Targeting price-fixing and market sharing agreements in particular, the leniency policy has been a valuable tool in penetrating the cloak of secrecy that conceals collusive behaviour, according to the Commission. A statement announcing the changes commented that the policy had played a major role in the adoption of 10 decisions in 2001, leading to the imposition of a total of 1,836 million Euro in fines on 56 companies. Changes to the policy seek to improve its transparency and legal certainty and to make it more attractive for companies to come forward. In future, complete immunity will be granted to the first member of a cartel to either inform on the group or to provide evidence proving the infringement. Reductions are also offered for other companies that come forward with evidence providing "significant added value" to a Commission's investigation. These reductions will be awarded through a system of bands, beginning with a range of 50% to 30% for the first to come forward, and 20% to 30% for the second.
