Watchdog agency proposes cap on unfair competition fines

The National Agency for Competition Protection (ANPC) proposes introducing limits on fines for unfair competition set between 0.1% and 3% of the culprit company's total turnover, Info-Prim Neo reports. A draft law containing the measure was submitted by ANPC with the intention to update the 2000 Competition Law, in particular to introduce stronger provisions against anti-competitive agreements and abuses of dominant positions on the market. ANPC head Viorica Carare argued that whereas the 2000 Law allowed for huge court-ordered fines, the updated version allowed to individualize sanctions imposed on unfair companies, while considering all the aggravating and mitigating circumstances as well as the duration of the violation. “This law is necessary, because often companies don't even realize they breach the law and engage in unfair practices. Sometimes state intervention is required when there is no competition, which may deteriorate the business climate and ultimately affect consumers” , said Roman Chirca, director of the Market Economy Institute. MP Adrian Candu said any company wants to be protected against discrimination and favoritism and this can be achieved by an effective law like the one proposed by ANPC. Candu further assured that efforts would be made to adopt the law in Parliament by the end of the year. The draft law was put up for public debates.