South Africa: Stiff New Penalties for Price Collusion

The Competition Amendment Bill (South Africa) was signed into law this past weekend.  The new legislation will allow directors and managers to be sent to jail for 10 years or receive a fine of 45,000 euros if convicted of price fixing collusion.  Provided that this sort of measure is combined with efforts to make the economy more robust, efficient and consequently more efficient, this sort of regulatory reform is a positive step.

IPS – Price Fixing