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Portugal: Watchdog raids insurers

By  |  July 11, 2017

The Portuguese Competition Authority (Autoridade da Concorrência – AdC) confirms that it carried out dawn raids in the last few days at 5 premises of 4 companies located in Lisbon, in the context of one new antitrust proceeding, under the powers provided by the Competition Act.

The dawn raids were carried out under the suspicion of cartel behavior in the insurance sector, in violation of the Competition Act.

Unannounced inspections are a means to obtain evidence of anticompetitive practices. However, the fact that they are carried out does not entail that the involved undertakings will be punished, nor does it imply a judgment on whether the undertakings are illegal.

The inspections were carried out by the AdC in cooperation with the Department of Criminal Investigation and Prosecution.

The AdC ordered the infringement proceeding to be subject to secrecy.

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