A PYMNTS Company

Spain: CNMC to seek higher penalties for executives

By  |  March 14, 2017

Spanish regulator CNMC has begun a series of public consultations with the aim of undertaking a thorough reform of the country’s Competition Law, which dates back to 2007. This period, the CNMC argues, has seen important regulatory and political changes, including the creation of the regulator itself in 2013.

    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.

    Beyond clearing up the sanctions and measures in the current legislation, the reform will seek to increase the limits on fines imposed on individual executives found guilty of violating competition laws. Currently the limit is set at €60,000 euros, which the CNMC has said to be insufficient to present a true deterrent.

    The CNMC will also seek to incorporate various normative changes that have taken place at national and community levels, such as measures that could ease the filing of collective action lawsuits, giving consumers more tools to fight back against cartels.
    Full Content: Cinco Días

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