With a unanimous decision, the Hellenic Competition Commission (HCC) has established the terms and conditions of the settlement procedure in cartel cases.
The new Settlement Procedure concerns cases where undertakings or associations of undertakings make a clear acknowledgement of participation in cartels and the subsequent breach of competition law. As a result, provided that certain conditions are fulfilled, they can obtain a reduction of the imposed fine by 15%.
The new Settlement Procedure is essentially modeled after the EU equivalent procedure and aims at simplifying and speeding up the handling of pending cases. It would allow the HCC to be more efficiencient through a streamlined administrative process.
Full Content: Hellenic Competition Commission
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