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Argentina: New Defense of Competition Law Approved

 |  May 14, 2018

Argentina’s new Antitrust Law was approved on May 9. The law will seek to provide greater control over abusive practices and dominant companies, and give a boost to the figure of ‘leniency programs’, as well as increase the fines that can be charged to the infringing companies.

The law also creates a new National Competition Authority, whose members will be determined by public contest and will operate autonomously. “It implies a quality leap in the regulatory framework … With the changes, it is possible to have a legal framework in accordance with international standards,” said Esteban Greco, head of the current National Commission for the Defense of Competition.

The main points of the new law will be: The creation of a new Agency for the Defense of Competition, consisting of a Court and two Secretariats, one for Economic Mergers and another for Anticompetitive Behaviors. Updating the figures for possible sanctions, which had lagged behind at 1999 values; establishment of a leniency program, applicable to those companies that participate in cartels and want to provide evidence to reduce their corresponding sanction. Raising thresholds for notification of operations.

Full Content: Cronista

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