The European Union (EU) antitrust law concepts of ‘undertaking’ and ‘single economic entity’ allow fines to be imposed on parent entities of subsidiaries involved in cartel conduct, even where the parent was not itself involved or aware of the cartel. Recent case law developments in the cartels sphere have materially extended the circumstances in which such fines can be imposed on parents.

Read this chapter in Shearman & Sterling’s 2019 Antitrust Annual Report, “Parental Liability for EU Antitrust Infringements: New and Broad Frontiers.”