Competition law fines uk

Jan 19, 2023Biggest competition law fines of 2022 in detail1. Pfizer & Flynn - £70m fine2. Mastercard - £31.5m fine3. Focus - £15.5m fine4. JD

Businesses that are found to have breached competition law can be fined up to 10 per cent of their annual worldwide turnover and ordered to change their behaviour. Individuals who engage in cartel activity can be prosecuted and sentenced to up to five years in prison and/or a fine.

If you're involved in anti-competitive activity Your business can be fined up to 10% of its worldwide turnover and sued for damages. You can be fined or sent to prison for up to 5 years if you're found guilty of being involved in cartel activity.

Are UK businesses subject to EU competition law?

The EU rules will cease to have effect within the UK from 1 January 2021 but UK businesses with cross-border activities within the EU will still be subject to EU competition law in respect of those activities, as well as domestic competition law in the EU member states.
UK and EU competition law prohibit two main types of anti-competitive activity:.

What are the UK Payment Systems Regulator & Competition & Markets Authority fines?

The UK Payment Systems Regulator (PSR) and the Competition & Markets Authority (CMA) have not held back when issuing fines.
After its first cartel decision, the PSR dished out £33 million in fines. 1.
Pfizer & Flynn - £70m fine .

What happens if you cross a competition law line?

Crossing that line can cause significant financial and reputational damage to your company.
If you're interested in earlier penalties, see competition law fines 2020 and the highest competition fines of 2021.
For the latest fines, check out the biggest competition law fines of 2023.

Who enforces competition law in the UK?

The Competition and Markets Authority (CMA) is the principal competition law enforcement authority in the UK, though there are a number of sector regulators with concurrent powers to enforce competition law in their respective sectors.

Are UK businesses subject to EU competition law?

The EU rules will cease to have effect within the UK from 1 January 2021 but UK businesses with cross-border activities within the EU will still be subject to EU competition law in respect of those activities, as well as domestic competition law in the EU member states

UK and EU competition law prohibit two main types of anti-competitive activity:

What happens if you cross a competition law line?

Crossing that line can cause significant financial and reputational damage to your company

If you're interested in earlier penalties, see competition law fines 2020 and the highest competition fines of 2021

For the latest fines, check out the biggest competition law fines of 2023

Who enforces competition law in the UK?

The Competition and Markets Authority (CMA) is the principal competition law enforcement authority in the UK, though there are a number of sector regulators with concurrent powers to enforce competition law in their respective sectors

United Kingdom legislation

The Competition Act 1998 is the current major source of competition law in the United Kingdom, along with the Enterprise Act 2002.
The act provides an updated framework for identifying and dealing with restrictive business practices and abuse of a dominant market position.