On February 18, a bill for the Federal Antitrust and Economic Competition Law was published in the Parliamentary Gazette. In this regard, it is important to note that other bills may be introduced subsequently. This proposal seeks to repeal the current Federal Economic Competition Law and establish a new regulatory framework in this area.
Among its main changes, the bill contemplates the creation of the National Agency for Competition and Economic Well-Being, which would replace the current Federal Economic Competition Commission (COFECE) and would be composed of a Plenary of five commissioners. Likewise, the bill creates the Antitrust Prosecutor’s Office (which will have the same powers currently held by COFECE’s Investigative Authority). It also introduces a new relative monopolistic practice consisting of the imposition of unfair purchase or sale prices or other inequitable transaction conditions. With respect to concentrations, it proposes a reduction of the thresholds that trigger the obligation to request authorization and expressly establishes the obligation to notify joint ventures when they exceed the determined threshold. The proposed sanctions reflect a significant increase in the fines that the authority may impose as enforcement measures. Notably, it includes a specific sanction for impeding the access of public officials or obstructing verification visits. Likewise, an increase in sanctions for collusive agreements is contemplated, which could reach up to 20% of the total income of the economic interest group to which the economic agent belongs, while sanctions for engaging in relative monopolistic practices could amount to up to 10% of such income. For further information, please contact Fernando Carreño, Partner +52(55) 5258-1042 | fcarreno@vwys.com.mx Sergio López, Partner +52 (55) 5258-1042 | slopez@vwys.com.mx
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