Cartel conduct is criminalised by Law No. 8,137 of 27 December 1990.
The offence
It is a criminal offence for an individual to act in any way intended to or otherwise able (whether or not the effects are achieved) to:
- limit, restrain or in any way injure open competition or free enterprise;
- control a relevant market or a certain product or service;
- increase profits on a discretionary basis; or
- abuse one’s market control.
This includes market allocation, price fixing, bid rigging and output limitation.
Sanctions
Individuals
Between two and five years’ imprisonment. In certain specific circumstances this can substituted with a fine.
Corporations
Cartel conduct is not criminalised.
