Legal Alert – The Ministry of Employment and Economy Has Appointed a Working Group to Investigate a Reform of the Competition Act
The working group, which consists of experts in the field of competition law, is to investigate changes to the current Competition Act which came into force in November 2011. The Ministry and the Finnish Competition and Consumer Authority (FCCA) has already concluded various reports on the Act’s purpose and functionality.
The decision to appoint the working group sets out the objectives for the group’s investigation. In addition to Finnish reports, the goals have been inspired by international discussions and practices in other European countries. The matters to be examined include:
- Legal security regarding the amount of fines companies are ordered to pay in relation to competition law infringements and the possibility to challenge the legality of a dawn raid decision.
- The possibility for the FCCA to prevent a company suspected of participating in a cartel from carrying on in business or to order structural changes in the market in order to restore functioning competition.
- More minor changes such as the expression of the FCCA’s merger control investigation deadlines in working days instead of calendar months and some deletions of unnecessary sections of the Act.
Ilkka Aalto-Setälä, partner at Borenius, has been nominated as a member to the working group.