A PYMNTS Company

Perú: Competition regulator’s arsenal expanded

By  |  October 5, 2015

Peru’s legislature has issued a new decree, approved last Tuesday, introducing several modifications to the country’s Competition laws. The wide-ranging reforms are aimed primarily at increasing the investigation, case referral and sanctioning powers of the country’s competition watchdog, INDECOPI.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Among the biggest changes is INDECOPI’s new faculties to demand the payment of damages and losses for any anti-competitive practices and any negative effects. Thus, the agency can force payment of lost income to affected parties without having to go through courts. The regulator may also begin legal procedures to force the payment of damages caused by market manipulations whenever the administrative route fails to correct such behaviors.

    Another important change is the expansion of INDECOPI’s investigating powers, including the ability to ask the courts to lift any secrecy protections from industrial communications during the course of their investigations. Additionally, INDECOPI has been given powers to punish those who offer false information, fail to comply with information requests, fail to appear for interviews and hearings or who otherwise hinder the agency’s work.

    Source: La Ley

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.