A Guide to Hong Kong’s New Cooperation and Settlement Regime
July 10, 2019
O’Melveny lawyers Philip Monaghan, Scott Schaeffer, and Charles Paillard recently authored the Hong Kong chapter of Immunity, Sanctions & Settlements, a Global Competition Review “know-how” publication. The chapter covers Hong Kong’s newly adopted Cooperation and Settlement Policy, which establishes a framework for companies implicated in cartel cases to cooperate with the Hong Kong Competition Commission in exchange for benefits like reduced sanctions.
The chapter also focuses on leniency (immunity or a 100 percent reduction in pecuniary penalties) in the cartel context, including all procedural steps for securing lenient treatment, eligibility criteria, the marker process, cooperation obligations, the process by which leniency is granted, and the circumstances pursuant to which leniency can be revoked. In total, the chapter provides detailed and practical answers to over 70 questions about the new Hong Kong competition regime.
Should you have any questions on this alert, the Hong Kong cartel leniency regime, or the Hong Kong chapter of Immunity, Sanctions & Settlements, please feel free to contact any of the key contacts listed on the left.
This memorandum is a summary for general information and discussion only and may be considered an advertisement for certain purposes. It is not a full analysis of the matters presented, may not be relied upon as legal advice, and does not purport to represent the views of our clients or the Firm. Philip Monaghan, an O'Melveny partner licensed to practice law in England & Wales, Ireland, and Hong Kong, Scott Schaeffer, an O'Melveny counsel licensed to practice law in California and the District of Columbia, and Charles Paillard, an O'Melveny associate licensed to practice law in France and a registered foreign lawyer in Hong Kong, contributed to the content of this newsletter. The views expressed in this newsletter are the views of the authors except as otherwise noted.
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