This article explores the practice so far in the application of the 2006 Guidelines on Fines of the European Commission. The different steps in the calculation are examined in separate sections, and the analysis also takes into account the most recent case law of the European Union (EU) Courts. This article concludes that the current level of fines is by no means excessive, while at the same time the guidelines offer the necessary modulations to allow account to be taken of the particularities of each case and the liability of each undertaking. The value of sales, a possible different percentage for gravity, the multiplier for duration, and the application of adjustments all ensure that proper account is taken, where appropriate, of more intense or limited participation by a given undertaking. The application of the 2006 Guidelines to past cases does not breach the principle that no heavier penalty will be imposed than the one that was applicable at the time the offence was committed.
World Competition