GVH: Leniency for cooperation in building materials investigation
While Hungary's Competition Authority (GVH) is paying close attention to signals related to the construction industry, it is worthwhile for relevant market enterprises to cooperate with the authority again, according to profitline.hu.
Companies that voluntarily disclose their own cartel activities can benefit from a significant reduction in fines and even a full fine, the authority said in a statement.
GVH has recently set up a special investigation team to investigate the causes of the drastic rise in construction raw material prices, which will focus on analyzing complaints and market signals related to suspected cartel activities.
Meanwhile, the government has also decided to expand the legal capacity of GVH to allow for faster and more effective action against market failures. The companies concerned should also bear in mind, under the close control of the market, that the legislation in this case also rewards cooperation with the competition authority.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.