Peru: Targeting Cartels and stiffening penalties, INDECOPI strengthens competition law

Peru’s competition and markets watchdog, INDECOPI, has presented congress with a proposed reform package that aims to strengthen the country’s current Competition Law. The document includes a series of proposals based on international Best Practices, seeking to improve efficiency in the agency’s work.

In principle, the package aims to strengthen the defence of competition by targeting cartels, identified as the most harmful element for Peru’s competitive process. The law modifies articles 2 and 43 of the current Competition Law, increasing penalties for anyone responsible for planning, executing or facilitating the creation of a cartel.

The initiative will also force those under investigation to cooperate by reviewing measures for leniency, with the end goal of reestablishing the competitive process and eventually reversing any negative effects suffered by consumers.

Source: El Peruano

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