On 16 July 2021, the Competition and Consumer Commission of Singapore (“CCCS“) announced a public consultation on proposed changes to the CCCS Guidelines on the Appropriate Amount of Penalty in Competition Cases (“Penalty Guidelines“).
CCCS is seeking feedback on two clarificatory amendments to mitigating factors which are set out in the Penalty Guidelines. It is highly likely that these changes have been introduced following recent infringement decisions, including one which was appealed to the Competition Appeal Board.
The Consultation will run from 16 July 2021 to 5 August 2021, with feedback to be summarised and published in due course. We strongly recommend that businesses and trade associations in particular review the proposals very carefully and consider responding.
For more information, click here to read the full Legal Update.
