Merger Control Notification: Penalties for Failure to Notify

    View Authors July 2013
    With the recent imposition of substantial civil penalties on MacAndrews & Forbes Holdings (US$720,000) and on Barry Diller (US$480,000) for failing to comply with the reporting requirements of the Hart-Scott-Rodino (HSR) Act in connection with the acquisition of voting securities of Scientific Games Corporation and Coca Cola Co., respectively, it is timely to remind acquiring and acquired parties that not only must the complex HSR regulations be taken seriously, but also that many other countries impose substantial monetary penalties for noncompliance with their merger control regulations. Listed in the publication are the statutory penalties for noncompliance with merger control notice requirements in those jurisdictions where merger filings are frequently required in connection with cross-border transactions.