A PYMNTS Company

Spain: CNMC could slap stevedores with multi-million-dollar fine

By  |  November 7, 2017

Spanish regulator CNMC has opened proceedings against stevedore companies and to their workers’ unions to review their compliance with competition regulations.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Both parties must submit their proposals for the V Framework Agreement for the regulation of labor relations in port stowage to the CNMC for evaluation.

    The CNMC has said it will closely monitor the negotiations to ensure that no irregularities are committed, especially considering the unofficial agreements that some companies signed with unions in mid-2017 under union pressure. The CNMC has not taken its eye off the dockyard ball, and could fine any wrongdoing with up to 10% of the companies’ revenue. This translates into penalties that can exceed one million euros.

    Full Content: El Confidencial

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.