The italian guidelines on antitrust compliance programs and the difficult goal of matching deterrence, education, and business ethics

The importance of an effective competition law culture in the business community is indubitable. Awareness, advocacy, and compliance are significant and central to the effective role of competition enforcement authorities. The study provides an assessment of recent Italian efforts to balance deterrence and education, to ensure compliance in their enforcement activities, by looking at the Guidelines on fine reductions introduced in Italy and the shifting role of the Italian Competition Authority. The chapter focuses on the system of incentives and reward and notes the divergence from the Commission's approach, by reflecting on the distinctive nature of the Italian economy, driven by micro and small firms, whereby greater incentives are required.