A PYMNTS Company

Hong Kong: Regulator plans greater cartel cooperation incentives

 |  May 14, 2019

The Hong Kong Competition Commission has published proposals for a cooperation and settlement policy aimed at encouraging companies involved in cartels to step forward and help with investigations.14 May 2019

The new policy (16 page / 416KB PDF) sits alongside the commission’s existing leniency policy, and will be available for businesses which cannot benefit from the current policy. That policy, introduced in November 2015, is only available for the first cartel member reporting cartel conduct to the commission.

Under the proposals, companies cooperating with the commission on cartel investigations could benefit from a discount of up to 50% off the financial penalty which they might otherwise face.

The commission will determine discounts based on the order in which companies come forward to cooperate as well as the nature, value and extent of the cooperation. It may also agree not to bring proceedings against individuals involved if they fully cooperate with the investigations.

Full Content: Out Law

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