S H E A R M A N & S T E R L I N G L L P | 4 7
CARTELS
Leniency programs have been one of the
most effective tools for cartel prosecution over
the past two decades. While there has been
a proliferation of leniency programs across
jurisdictions, established agencies such as
the United States Department of Justice
(DOJ) and the European Commission (EC)
are experiencing a decrease in the number
of leniency applications. This note examines
possible explanations for the decline in
leniency applications, but concludes that the
benefits of leniency still outweigh those costs
in most cases.
Continued overleaf
REDUCTION IN
LENIENCY; DROP
IN ENFORCEMENT?
BY DJORDJE PETKOSKI, PATRICIA SANCHEZ-CALERO BARCO AND ALICIA BELLO
