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.
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.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI