The Cartels and Leniency Review
John Buretta and
Cravath, Swaine & Moore LLP and
Simpson Thacher & Bartlett LLP
Cartels are a surprisingly persistent feature of economic life. The temptation to rig the game in one’s favour is constant, particularly when demand conditions are weak and the product in question is an undifferentiated commodity. Corporate compliance programmes are useful but inherently limited, as managers may come to see their personal interests as divergent from those of the corporation.