On 17 May 2011, the Autorité de la concurrence, the French competition authority (the Autorité), unveiled its guidelines (the Communiqué) relating to the setting of financial penalties in antitrust cases. The Communiqué promised to herald a new, more sophisticated approach to competition law fines; but the final draft, in many important respects, is rather disappointing as it is largely in line with the European Commission's 2006 guidelines. That said, there are still many features that differentiate the French approach from the current European model.
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