C-level insights regarding awareness and optimal design of the European Commission’s leniency programme

The European Commission’s leniency programme is central to EU cartel enforcement, yet little evidence exists on whether senior decision-makers understand the programme or which features they consider most effective. This article presents exploratory evidence from a survey of 70 C-level managers in Belgium, France and Luxembourg. 70% were unaware of leniency options, and only 6% knew the conditions for applying. After receiving a brief explanation of the programme, respondents identified reputation as the principal consideration when contemplating disclosure. 57% regarded protection against follow-on damages claims and exposure to sanctions in other jurisdictions as more important than immunity from fines. Moreover, 73% considered that fine reductions should depend on the quality of the evidence provided, while 74% supported some form of leniency after an investigation had begun. The findings indicate that awareness is a prerequisite for effective leniency policy and should be strengthened through training.