Colombia: New incentives for antitrust whistleblowers

A new bill presented to Colombia’s congress will seek to deter anticompetitive practices by strengthening the current investigative and retribution capabilities of regulators. Among the most prominent lie recommendations to improve the benefits awarded for voluntarily collaborating with authorities.

The initiative, which adopts a series of recommendations by the OECD group of countries, would seek to deter monopolistic practices by providing judicial security and protecting the confidentiality of any whistleblowers who come forward with information regarding competition violations they have participated in. However, once competition regulators issue a ruling on the matter, the whistleblower’s existence and identity would be revealed.

Additionally, whistleblowers would be elegible to receive a series of benefits for informing regulators of non-cartel competition violations, such as full immunity from penalties.

Source: Ambito Juridico

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