PCC considering stiffer penalties for competition law violations

THE Philippine Competition Commission (PCC) said it is seeking comment on its proposal to increase fines for competition law violations.

In a statement, the PCC said it is soliciting public comment for its draft memorandum circular adjusting the schedule of fines prescribed by Republic Act No. 10667.

The PCC is accepting comment on its draft until March 13.

The regulator is proposing to raise the maximum administrative first-offense fine for violating the ban on cartels, abuses of dominance, and prohibited mergers to P125 million from the current P110 million.

For the second and succeeding offenses, the PCC is looking to raise fines to a range of P125 million to P310 million, from P110 million to P275 million currently.

It also proposed a fine of up to P2.5 million for failure to notify the commission of any sale, donation, disposition, or other such transfers during adjudication.

It proposed the same penalties for failure or refusal to comply with a PCC ruling, order, or decision.

It also seeks to raise fines for the entities found supplying incorrect or misleading information to P1.25 million from P1.1 million.

Those found obstructing PCC investigations face a maximum penalty of P2.5 million, against the current P2.2 million. — Beatriz Marie D. Cruz