The Federal Antitrust and Economic Competition Law Initiative is published. On February 18, a Federal Antitrust and Economic Competition Law initiative was published in the Parliamentary Gazette. In this regard, it is important to highlight that other initiatives may be presented subsequently.
The Federal Antitrust and Economic Competition Law Initiative is published. On February 18, a Federal Antitrust and Economic Competition Law initiative was published in the Parliamentary Gazette. In this regard, it is important to highlight that other initiatives may be presented subsequently. This proposal seeks to repeal the current Federal Economic Competition Law and establish a new regulatory framework in the field.
Among its main changes, the initiative contemplates the creation of the National Agency for Competition and Economic Welfare, which would replace the current Federal Economic Competition Commission (COFECE) and would be composed of a Plenary of five commissioners. Likewise, the initiative creates the Antitrust Prosecutor's Office (which will have the same powers that the COFECE's Investigative Authority currently has).
It also introduces a new relative monopolistic practice consisting of the imposition of purchase, sale, or other unfair transaction conditions.
In terms of concentrations, a reduction in the thresholds that require authorization is proposed, and the obligation to notify joint ventures when they exceed the determined threshold is expressly established.
The proposed sanctions reflect a significant increase in the fines that the authority may impose as enforcement measures. Notably, a specific sanction for preventing access to public officials or obstructing verification visits is included. Additionally, an increase in sanctions for collusive agreements is contemplated, which could reach up to 20% of the total income of the economic interest group to which the economic agent belongs, while sanctions for engaging in relative monopolistic practices could rise to 10% of such income.
