Mexico's Congress has approved tougher penalties under a new antitrust law, including fines of up to 10 percent of a company's annual profit and up to 10 years in prison for executives. The approval comes two weeks after Telcel, Carlos Slim's cell phone company, was fined an unprecedented $1 billion for alleged monopolistic practices.
May 03, 2011 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Mexico’s Congress approved tougher penalties Thursday under a new antitrust law, including significant fines for companies and up to 10 years in prison for their executives.
The change to the Federal Law of Economic Competition establishes fines of up to 10 percent of a company’s annual profit for monopolistic practices. Previously, companies were sanctioned only for engaging in such activities more than once.
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