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Getting The Deal Through

Global Overview

Peter K Huston, Ken Daly and Lei Li

Sidley Austin LLP

Monday 21 November 2016


Introduction

It has been 240 years since Scottish economist Adam Smith warned about cartels in The Wealth of Nations and over 125 years since the US and Canada outlawed them. Yet it is just within the past 25 years or so that we have seen a flood of anti-cartel enforcement sweep across much of the rest of the world. We are in the midst of a global trend toward broader and more vigorous cartel enforcement, heightened maximum penalties, leniency policies designed to disrupt and expose cartels and increased global cooperation among enforcers. Indeed, more and more jurisdictions are viewing cartels as not just illegal, but criminal. For example, this past year saw criminalisation of cartels take effect in South Africa and Chile’s legislature is considering re-criminalisation. While only a few countries, to date, have actually jailed individuals convicted of cartel offences, this is likely to change as authorities seek to take advantage of the powerful deterrent effect that custodial sanctions provide. 

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