Competition Law at Guatemala
Sure! Here’s a concise overview of Competition Law in Guatemala:
Competition Law in Guatemala
Guatemala has a dedicated legal framework and authority to regulate competition and prevent anti-competitive practices.
Legal Framework
Competition Law (Ley de Competencia, Decreto No. 20-2010)
Enacted in 2010, this law regulates market competition to prevent monopolistic and anti-competitive behavior.
Consumer Protection Law (Ley de Protección al Consumidor y Usuario, Decreto No. 06-2003)
Provides additional safeguards related to consumer rights.
Key Enforcement Authority
Superintendence of Competition (Superintendencia de Competencia - SIC)
An autonomous government agency responsible for enforcing competition laws, investigating anti-competitive behavior, approving or prohibiting mergers, and promoting competition.
Core Principles and Prohibitions
Anti-Competitive Agreements:
Prohibits collusion such as price-fixing, market allocation, bid-rigging, and other cartel behaviors.
Abuse of Dominant Position:
Addresses misuse of market power like predatory pricing, discriminatory practices, or refusal to supply.
Merger Control:
Requires pre-merger notification and review of transactions that may significantly affect competition in Guatemala.
Investigative Powers:
SIC has authority to investigate, conduct dawn raids, impose sanctions, and require corrective actions.
Recent Trends and Enforcement
Guatemala's SIC has been active in investigating cartels, abuse of dominance, and scrutinizing mergers in sectors like telecommunications, pharmaceuticals, and agriculture.
Penalties for violations can include significant fines and orders to cease unlawful practices.
Regional Cooperation
Guatemala participates in regional competition initiatives under the Central American Integration System (SICA) and collaborates with other countries to harmonize competition policies.
Summary Table
| Aspect | Details |
|---|---|
| Governing Law | Competition Law (Decree No. 20-2010) |
| Enforcement Authority | Superintendence of Competition (SIC) |
| Key Prohibitions | Cartels, abuse of dominance, anti-competitive mergers |
| Consumer Protection Link | Consumer Protection Law (Decree No. 06-2003) |
| Regional Collaboration | SICA competition initiatives |
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