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The Act increasing the maximum fine that the Authority for Consumers and Markets can impose for cartel infringements is set to enter into force on 1 July 2016.
The Act increasing the maximum fine that the Authority for
Consumers and Markets can impose for cartel infringements is set to
enter into force on 1 July 2016. Instead of keeping pace with the
European Commission's 10% cap of a company's total turnover
in the preceding business year, the Act will increase the maximum
fine to 10% of a company's turnover achieved during the cartel
infringement, subject to a maximum duration of four years. In the
case of repeated infringement, the maximum fine level will double.
Fines for individuals who oversaw and gave instructions regarding
the cartels will also be doubled from EUR 450,000 to EUR 900,000.
Cartel infringements may therefore soon lead to even more serious
financial setbacks. All the more reason for companies to check
whether implemented compliance programmes are sufficiently
effective in detecting potential cartel violations.
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