A trading prohibition for those engaging in unlawful cartel activities, heavier cartel penalties (administrative fines) and swifter recourse to legal proceedings. These are some of the key features of the new Competition Act passed unanimously by the Swedish Riksdag.
“The introduction of updated, tougher competition rules is good news,” says Jan-Erik Ljusberg, Deputy Director General of the Competition Authority.
“The new act will be an important weapon in the ongoing hunt for unlawful cartels that eliminate market competition.
“The fact that the Riksdag was unanimous in its decision is important in itself. It means that there is a broad consensus in favour of the rules now in place in the competition field. The Riksdag wants to see the fight against cartels intensified, and the new law makes this possible. It is also worth noting that the Riksdag is agreed on the importance of bringing Swedish competition law more closely into line with Community law, as has now been done.”
The old Competition Act, from 1993, has been given a thorough facelift, and the new rules reflect the EU’s regulatory framework. Tougher provisions have been introduced in a number of areas. One concerns the way in which financial penalties (administrative fines) are calculated. In future, enterprises taking part in unlawful cartels risk heavier fines. A completely new sanction is a trading prohibition that may in future be imposed on anyone helping an enterprise to join a cartel.
New rules for how mergers are to be dealt with are another feature. The assessment process is to be streamlined and made more accurate. Under the new act, it will be possible to assess more mergers that affect competitive market situations, while the total number of assessments can be reduced.
For further information, please contact:
Jimmy Dominius, Press Officer, tel +46 8 700 15 80 or +46 73 773 15 80.
Charlotte Zackari, Head of Legal Dept, tel +46 8-700 16 13 or +46 73-773 16 13