8/24/2023 0 Comments Orbis bureau van dijk price![]() The benefit of this new procedure is that companies receive guidance on applicable leniency criteria earlier. Once the leniency application is received, the FCA’s Board (the “ Collège”) takes a final decision on the approval of the application and granting of an immunity or fine reduction. Under the new regime, the FCA investigation unit, led by the General Rapporteur Stanislas Martin, informs applicant companies of the criteria they need to meet to be eligible for leniency. The review of a company’s application for leniency is a complex and time-consuming process, including because each document submitted by the applicant must be carefully assessed to determine if and to what extent the application adds value to the investigation and meets the required threshold for cooperation. The “DDADUE Act” enshrined new leniency procedures in French law, replacing the previous system, which was only codified under soft law guidance. This is the first time that the FCA has successfully applied its new leniency regime, revised in 2020 under the so-called “DDADUE Act” implementing the ECN+ Directive, which streamlined antitrust enforcement procedures throughout the EU. ![]() Įllisphere did not apply for leniency but its fine was reduced under the FCA’s settlement procedure. Moody’s, Bureau van Dijk’s parent company since 2017, notified the French regulator of the anticompetitive agreement in 2019 and was granted full immunity from penalties. The FCA was made aware of the disputed practices through an application to its leniency procedure. The FCA found that these agreements fixed prices of the companies and divided customers in the sector of the sale of subscriptions to economic intelligence and business information products. Since 1989, the two companies had entered into several cooperation agreements to commonly develop data bases and commercialize market intelligence products. Ellisphere specializes in collecting information on French companies. Bureau van Dijk offers a tool called Orbis, which provides information on over 220 million private companies worldwide, including financial data, shareholdings, and news updates. Įllisphere and its competitor Bureau van Dijk are both data collection and analytics companies that specialize in providing economic intelligence services. On April 12, 2023, the French Competition Authority (“ FCA”) imposed a €3.5M fine on market intelligence company Ellisphere for price-fixing and market-sharing practices, marking the first successful application of the watchdog’s leniency regime since it was reformed under the ECN+ Directive.
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