Cartels: the heat is on

The climate of cartel enforcement is heating up in the UK – businesses and their advisers need to be aware of the Office of Fair Trading’s powers to investigate and punish offenders. Antony Corsi and Kevin Smith of Fulbright & Jaworski consider the OFT’s current and future approach to cartel enforcement and examine the English law governing cartel activity; they also look at the tools available to the OFT to investigate cartels and the penalties that participants face.

Antony Corsi (+ 44 (0) 20 7832 3659; acorsi@fulbright.com) is a partner and Kevin Smith (+ 44 (0) 20 7832 3641; ksmith@ fulbright.com) is an associate in Fulbright & Jaworski’s London office. Fulbright & Jaworski International LLP accepts no responsibility for loss occasioned to any person acting or not acting as a result of this summary. Further specific advice should be sought where necessary.

The changing landscape: accelerated evolution and a statement of intent

In recent years, regulators and the government in the UK have faced repeated international criticism for failing to take a hard-line approach to dealing with fraud, corruption and other financial misconduct. Just to rub salt into the wound, their US equivalents enjoy seemingly limitless powers of enforcement and regularly achieve high profile fines and convictions.