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Region: Andean Community will look into Tissue Paper cartel effects

By  |  November 29, 2016

For the first time in the organization’s history, the multi-country Andean Community of Nations will be taking matters in a case of price fixing and market rigging after having decided to look into a wide-reaching cartel which has affected most of the region.

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    “The ACN’s resolution is, initially, only to investigate whether the effects of the alleged collusion have affected the Colombian and Ecuadorian markets. However, if the cartel is also proven to have reached Peru, the investigation and possible penalties may increase in scope” said legal counsel Roberto Venero.

    Mr. Venero clarified that the Colombian competition authority has already approved penalties on the accused companies, having proven the existence of price-fixing schemes. The multilateral organization will assist individual countries to determine whether other members have been similarly affected, while they carry on their own investigations.

    Full Content: La República

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