The Use of Leniency in EU Cartel Enforcement: An Assessment after Twenty Years

Since 1996, the European Commission has been operating a leniency programme, under which companies cooperating with its cartel investigations can obtain immunity from fines or a reduction of fines. Leniency plays a prominent role in EU cartel enforcement today. This paper assesses the positive effects and the possible negative effects of leniency, in the light of twenty years of experience.