Regulatory Penalties - Two lessons from the EU context
30 Dec 2008
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Regulatory penalties, particularly financial penalties, are in the news, and the stakes are rising. Prominent domestic cases in 2008 have included the Office of Rail Regulation (“ORR”) imposing a fine of £14m on Network Rail after the engineering overruns at Christmas; and Ofgem imposing a fine of £41.6m on National Grid for restricting the development of competition in the domestic gas meter market.But as the stakes grow higher, so do the risks...
