![]() ![]() Simultaneous application of the leniency procedure and the settlement procedureīy informing the Autorité de la concurrence of the practices in question, Moody's Corporation applied for leniency under Article L.464-2 of the French Commercial Code ( Code de commerce), which provides that "a total or partial exemption from financial penalties may be granted to a company or association of companies which has, with others, implemented a practice prohibited by the provisions of Article L. However, as the Autorité constantly recalls, this type of clause has an anticompetitive purpose insofar as it has the effect of removing two essential parameters of competition. The different agreements in question included, among other things, clauses providing for a system of joint pricing of products and a client allocation mechanism. As both companies have developed specific skills, BvD specialising in the development of software solutions for data collection and mining and Ellisphere in the collection of information on French companies, in 1989 they concluded a cooperation agreement which they have subsequently renewed on several occasions, via amendments or new contracts. ![]() This procedure is the first to implement the new leniency procedure resulting from Act 2020-1508 of 3 December 2020, known as the "DDADUE Act".īvD and Ellisphere entered into agreements containing joint-pricing and client allocation clausesīvD and Ellisphere are companies that market subscriptions to databases containing information about companies (including financial data and information on the identity of administrators and managers) such as Diane, Astrée, Amadeus and Orbis. The Autorité imposed a penalty of €3,500,000, which is within the range set out in the settlement report. In this case, BvD and Moody's Corporation were granted a full exemption from financial penalties.Įllisphere did not contest the objections notified to it but benefited from the settlement procedure. This procedure allows undertakings that have participated in a cartel to disclose its existence and obtain, under certain conditions, the benefit of a total or partial exemption from financial penalty. These practices were revealed to the Autorité in July 2019 following a leniency application by Moody's Corporation (parent company of the BvD group since 2017). The Autorité de la concurrence (hereinafter "the Autorité") condemns the price-fixing and client allocation practices committed over a period of more than 30 years by Bureau van Dijk (“BvD”) and the company Ellisphere in the sector of the sale of subscriptions to economic intelligence and business information products.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |