Challenges and co-ordination of leniency programmes – HONG KONG COMPETITION COMMISSION – June 2018 OECD discussion
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This presentation by Brent Snyder, Chief Executive Officer, Competition Commission of Hong Kong, was made during the discussion “Challenges and co-ordination of leniency programmes” held at the 127th meeting of the OECD Working Party No. 3 on Co-operation and Enforcement on 5 June 2018. More papers and presentations on the topic can be found out at oe.cd/2gt.
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Challenges and co-ordination of leniency programmes – HONG KONG COMPETITION COMMISSION – June 2018 OECD discussion
- 1. Keys to an Effective Leniency Program & Challenges of Proliferation April 2015 Brent Snyder Hong Kong Competition Commission Challenges and Co-ordination of Leniency Programmes OECD 5 June 2018 1
- 2. Keys to an Effective Leniency Program Create Strong Incentives for Leniency • Track record of successful ex officio investigations • Risk of serious corporate sanctions • Risk of individual sanctions • Leniency Plus Create Serious Consequences for Not Obtaining Leniency • Seek tough individual and corporate sanctions • Mitigation of private damages • “Penalty Plus” Be Transparent and Predictable • When in doubt, err in favor of leniency • Make necessary but reasonable demands 2
- 3. Challenges to Leniency in International Cartel Investigations Proliferation of Leniency and Private Enforcement • Far greater time and expense to cooperate • Far greater civil exposure • Far greater risk if not seeking leniency in every affected jurisdiction 3
- 4. Proliferation of Leniency and Private Enforcement Potential Remedies • Procedural and substantive convergence • Marker standards, proffer deadlines, and internal investigations requirements • No mandatory confidentiality waivers • More focused investigations • Better investigative coordination • Witnesses and witness statements • Immunity for, or mitigation of, civil exposure • Stronger leniency confidentiality protections • Whistleblower rewards 4
- 5. Thank you! 5