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(Feb 26, 2014) The House of Representatives of Mexico recently received from the Federal Executive Branch draft legislation (iniciativa) on a new Federal Competition Law, which contains 130 articles, in addition to amendments to article 254 bis of the Federal Penal Code, which deals with antitrust violations. (Victor Chávez, Esto es lo que Propone Peña Para Promover Competencia [This Is What Peña Proposes to Promote Competition], EL FINANCIERO (Feb. 19, 2014).)
The draft legislation's amendment of the Federal Penal Code increases the penalty from five to ten years in prison and the fine from 1,000 to 10,000 days' worth of the minimum wage for anyone who enters, orders, or executes contracts, agreements, or arrangements between entities that are economic competitors when such agreements, contracts, or arrangements have as their object or effect:
· to fix, raise, or manipulate the price of sale or purchase of goods or services that are offered or demanded in the marketplace;
· to establish an obligation to produce, process, distribute, sell, or purchase only a restricted or limited amount of goods or to engage in the purveyance or transaction of a restricted or limited amount of services;
· to divide, distribute, assign, or impose portions or segments of an actual or potential market for goods and services through customers and suppliers for monopolistic purposes;
· to establish, arrange, or coordinate positions in or abstention from public bids or auction proceedings; or
· to exchange information with a view to furthering some of the aims mentioned in the above provisions. (Id.)
The draft legislation, which will be sent to the Economic Committee of the Chamber of Deputies, notes that the penalties for those who commit these monopolistic practices are comparable to the highest penalties for economic crimes and meet international standards. (Id.)
|Author:||Norma Gutierrez More by this author|
|Topic:||Competition and antitrust More on this topic|
|Crime and law enforcement More on this topic|
|Jurisdiction:||Mexico More about this jurisdiction|
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Last updated: 02/26/2014