Mexico: Competition fines increase 64% over three years

The fines imposed by Mexico’s Federal Commission for Economic Competition (Cofece) during the time Alejandra Palacios Prieto has headed the regulatory body soared 64 percent compared to the first 20 years of the agency’s existence, from 1993 to 2013.

Between 1993 and 2013 the now extinct Federal Competition Commission (Cofeco) imposed fines amounting to $2 billion 530 million pesos, compared to over $4 billion 144 million pesos fined between 2014 and 2017, according to data from the institution’s own Strategic Project program.

“We must remember that the amounts of the sanctions are not capricious, that is, they are based on the practice committed, and it is the income of companies that sets the maximum limit and the damage caused to the market,” said Alejandra Palacios.

Full Content: El Financiero

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.