New rules could see competition watchdog fine ‘rogue operators’ up to €10m | Business Post

Leo Varadkar: the Tánaiste got cabinet approval last week to publish a new bill to give more powers to the Competition and Consumer Protection Commission. Picture: Julien Behal Photography

New powers to allow the competition watchdog to fine “rogue operators” up to €10 million for anti-competitive business practices are being introduced by Tánaiste Leo Varadkar. Anti-competitive practices include price-fixing and market-sharing for certain locations or customers. Another is bid-rigging, where businesses come together and agree not to bid against one another for a tender or contract so that one of them can achieve a higher price.

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