Argentina: Debate to penalize monopolies

The Chamber of Deputies of the Argentine Congress has kicked off the debate on a project that would once again modify the country’s Competition Law, presented by the deputies Mario Negri and Elisa Carrió. The new modifications would increase the penalties applicable to those who violate the principles of competition, with sanctions that could even include the dissolution or liquidation of the infringing firm.

In defending the official proposal, the president of the National Commission for the Defense of Competition, Esteban Greco, emphasized that the project aims to “create the conditions for Argentina to have clear rules for consumers and companies, especially SMEs.

Among the new features being discussed, the official text states that companies that join the Leniency Program the law could benefit from the exemption or reduction of administrative and civil penalties, “to the extent that they provide evidence to punish the members of the cartel”. The company that first comes forward could achieve a total exemption of penalties; those who do so later will get partial reductions.

Full Content: Cronista

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