The CPC Fined The Bulgarian Commodities Exchange with 1775 BGN for Unfair Competition
The Commission for Protection of Competition (CPC) has imposed a fine of BGN 1,775 on "Bulgarian Commodities Exchange" AD for unfair competition, the anti-monopoly agency said.
The proceedings were initiated at the request of Sofia Commodities Exchange AD.
The violation of the Bulgarian Commodities Exchange is that there is no charge for buyers who enter into public procurement deals. "The lack of a fee due in respect of the members of the Exchange which represent final customers as contracting entities under the Public Procurement Act and the fact that those persons are in a favorable position vis-à-vis other purchasers inevitably influences the commodities market, thus affecting the interests of competitors contrary to good commercial practice, "the CPC said in its decision.
For that reason, the anti-monopoly body imposes a pecuniary sanction amounting to 0.5 percent of the net sales revenue of the Bulgarian Commodities Exchange for the financial year 2016, which is equal to 1775 levs.
- » IMF Chief: Clouds over Global Economy are 'Getting Darker by the Day'
- » The IMF Provides a $ 50 Billion Loan to Argentina
- » Erdogan Claims Turkish Lira’s Loss in Value a Manipulation against Turkey
- » Every third Bulgarian has had Outstanding Loans, According to Eurostat
- » EC Predicts 3.8% Growth in Bulgaria in 2018
- » The Debt of Bulgaria for 2017 Amounts to BGN 25,064 Million