Competition Law
Risks and sanctions
Introduction
Cartels
Trade associations & other interactions
Abuse of a dominant position
Mergers and acquisitions
Risks and sanctions
Communicating with competition authorities
Contacts
Fines for violations of competition law are substantial and can apply to individuals as well as to companies. Good faith or ignorance will not be considered as a justification or excuse for the violation of competition law.
PENALTIES AND CONSEQUENCES FOR COMPANIES
❯ Fines of up to 10% of Group turnover
❯ Negative impact on the company image and reputation
❯ Any agreement which violates competition rules will be null and void
❯ The company will no longer be able to participate in bids for public sector work
❯ Victims of anticompetitive behaviour can claim damages
❯ Other costs may include litigation costs, business interruption, potential obstacles to business opportunities and acquisitions
CRIMINAL PENALTIES APPLICABLE TO THE INDIVIDUALS INVOLVED
Individuals found guilty of anticompetitive conduct may face lengthy imprisonment or a financial penalty.