A PYMNTS Company

Spain: €227 million in fines and 9 cartels, the tally for the CNMC

By  |  February 28, 2017

Spain’s competition regulator CNMC closed 2016 with a total of nine resolutions against cartels, as well as three findings of restrictions to competition and two cases of breach of obligations. In total, 14 confirmed infractions for a total of €227 million euros in fines collected.

96% of the fines imposed were directed at cartel participants (218 million). The CNMC found 9 secret agreements among companies to limit competition including fixing prices, setting territories and dividing up customers, exchanging confidential information, and others.

2016 has also seen the start of the agency’s evaluation of its leniency program, after eight years of applying the policy. The CNMC will work jointly with the country’s top law firms and other agencies to evaluate its effectiveness and to propose changes to the program.
Full Content:CNMC

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