CCPC given new powers to fine companies up to €10m

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 61%

United States News News

United States United States Latest News,United States United States Headlines

From today, the Competition and Consumer Protection Commission (CCPC) will be able to fine companies for breaching Irish and EU competition law.

The main purpose of the Act is to implement an EU directive which is designed to ensure that national competition authorities across Europe have similar powers for investigations and enforcement.

To incentivise companies to come forward, the CCPC said full immunity from administrative financial sanctions is only available to the first successful applicant. The Competition Act 2022, which was signed into law last June, also introduces an express provision against bid-rigging, and additional powers in the areas of mergers and surveillance.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Google Ireland launches ‘2023 You’re the Business’ competition for Irish SME’sThe Us tech company has partnered with Enterprise Ireland and the Local Enterprise Office for the second year to launch the initiative
Source: businessposthq - 🏆 8. / 71 Read more »