Peru: INDECOPI plans reward for price-fixing whistleblowers

The competition and markets authority in Peru, INDECOPI, announced it is working on the development of a new rewards program, directed towards anyone who provides useful information to disrupt a cartel engaging in price manipulation. This was announced by the technical secretary of the commission for the Defense of Free Competition, Jesús Espinoza.

The new norm and corresponding regulation would be ready by the end of the year, entering into force in 2020.

Espinoza mentioned that similar programs are already operating in the United Kingdom and in South Korea, where the mechanism has already been used to detect and disrupt a cartel in the sugar sector.

The Peruvian state has paid 34% more due to overpricing in public contracts, Espinoza said, and there are 26 preliminary investigations on price agreements, expecting half of them to be concluded this year.

Full Content: Diario Correo

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