The Romanian Competition Authority imposes an 8% fine on an association of undertakings for price fixing and refers them for the first time to criminal investigation bodies (Association of the Depositories of Cereals)

Price fixing by associations of undertakings is no novelty in the competition world. Neither are heavy fines, although it is not often that a competition authority reaches an 8% fine for a short term infringement (be it price fixing), and without application of any aggravating circumstances. But while criminal liability for competition infringements has so far existed only in theory in Romania, the practice seems to be on its way, with issuance by the Competition Council of its Decision 63/2009. A. The road from the statement of objections to the Competition Council's decision Following price increases of bakery products in several counties in Romania, on 23 May 2007, the Competition Council launched an investigation regarding a potential breach of article 5 (1) of the Competition

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  • Nestor Nestor Diculescu Kingston Petersen (Bucharest)

Quotation

Georgeta Harapcea, The Romanian Competition Authority imposes an 8% fine on an association of undertakings for price fixing and refers them for the first time to criminal investigation bodies (Association of the Depositories of Cereals), 7 December 2009, e-Competitions December 2009, Art. N° 30743

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