Thursday, May 16, 2013

Spanish Inquisition

In the land of Torquemada ironía está muerto;

Like a novel on industrial espionage by John Grisham, the National Competition Commission (CNC), Spain's anti-trust watchdog, wants to step up its pursuit of cartels by using moles to infiltrate groups conniving to divvy up a market among its participants.
The supervisor is beefing up its clemency program by specifically asking companies that blow the whistle on cartels they form part of to remain within the group in order to gather information on price-fixing and market quotas to help its probes. Those agreeing to collaborate in this way may be exempt from any fines imposed by the CNC in the case of a company being the first to alert the watchdog to illegal practices, or a reduced fine if they provide information that helps unravel cartels.
Under current regulations, companies found guilty of participating in illegal cartels may face fines of up to 10 percent of their revenues and, in the case of executives taking part, up to 60,000 euros.
Which brings up the obvious question, is there more than one National Competition Commission in the country?

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