In today's decision to sanction makers of high voltage power cables, the European Commission ("EC") has extended the reach of its competition enforcement to private equity firms.
When fining companies for breaking EU competition rules, the EC typically attributes liability to the parent company, enabling it to impose fines of up to 10% of the parent's worldwide turnover. The EC now appears to be extending this approach to private equity firms, with the potential for even bigger fines.
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