Den HAAG-companies that violate competition rules can now be more heavily penalized.
Competition watchdog Authority Consumer & Market (ACM) may as of this month higher fines.
The maximum penalty that the supervisor could hand out per violation was first 450,000 euro. That is now 900,000 euros, or, if that's more, to 10 percent of annual turnover. The maximum fine of cartels is now depending on the duration of the prohibited price fixing. Then the penalties amount to 40 percent of the annual revenues of a company. In the case of repeated violations may further fines are doubled.
It follows from a law change that last december was approved by the Senate. A fine works according to ACM-Board Member Anita Vegter extra good if these "is also really frightening".
By editorial Telegraph/ Photo: REUTERS XTRA
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