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The '''Autoridade da Concorrência''' is the [[Portuguese language|Portuguese]] name for the ''Portuguese competition authority'', an organisation established to ensure fair commercial competition in Portugal.
The '''Autoridade da Concorrência''' (AdC) is the [[Portuguese language|Portuguese]] name for the country's [[competition regulator]], an organisation established to ensure fair commercial competition in Portugal.


==Notable cases==
==Notable cases==
In 2017, AdC ruled to fine the Portugal’s largest company, the utility [[EDP]], 28.7 million euros ($31.54 million) and retailer [[Sonae]] 9.6 million euros for an illegal non-competition pact between their subsidiaries; under the 2012 agreement, Sonae had committed itself to not competing against EDP in electricity trading in Portugal for two years.<ref>Andrei Khalip (1 August 2017), [https://www.reuters.com/article/idUSP4N1BB02L Portugal antitrust authority slaps large fines on EDP, Sonae] ''[[Reuters]]''.</ref>
In 2017, AdC ruled to fine the Portugal’s largest company, the utility [[EDP Group]], 28.7 million euros ($31.54 million) and retailer [[Sonae]] 9.6 million euros for an illegal non-competition pact between their subsidiaries; under a 2012 agreement, Sonae had committed itself to not competing against EDP in electricity trading in Portugal for two years.<ref>Andrei Khalip (1 August 2017), [https://www.reuters.com/article/idUSP4N1BB02L Portugal antitrust authority slaps large fines on EDP, Sonae] ''[[Reuters]]''.</ref>


In 2019, AdC fined four insurance companies a total of 54 million euros ($59.6 million) for “cartel practices”, with the biggest fines were imposed on the local branch of [[Zurich Insurance Group]] and Portuguese insurer Lusitania.<ref>Catarina Demony (1 August 2019), [https://www.reuters.com/article/idUSL8N24X4C7 Portugal competition watchdog fines insurers over cartel practices] ''[[Reuters]]''.</ref>
In 2019, AdC fined four insurance companies a total of 54 million euros ($59.6 million) for “cartel practices”, with the biggest fines imposed on the local branch of [[Zurich Insurance Group]] and Portuguese insurer Lusitania.<ref>Catarina Demony (1 August 2019), [https://www.reuters.com/article/idUSL8N24X4C7 Portugal competition watchdog fines insurers over cartel practices] ''[[Reuters]]''.</ref>


Also in 2019, AdC fined 14 banks a total of 225 million euros ($248.6 million) for concerted practices of exchanging sensitive commercial information on credit products. The fines were imposed on Portugal’s biggest bank at the time, [[Caixa Geral de Depósitos]], as well as [[Portuguese Commercial Bank|Millennium BCP]], [[Banco Bilbao Vizcaya Argentaria|BBVA]], Banco BIC Português, [[Banco Português de Investimento]] (BPI), [[Banco Espírito Santo]], [[Banif Financial Group|BANIF]], [[Barclays]], Caixa de Credito Agricola, [[Montepio (bank)|Montepio]], [[Santander]], [[Deutsche Bank]] and Unión de Créditos Inmobiliarios (UCI).<ref>Catarina Demony and Sergio Goncalves (9 September 2019), [https://www.reuters.com/article/portugal-banks-fine-idUSL5N2605VE Portugal competition watchdog fines banks over concerted practices] ''[[Reuters]]''.</ref>
Also in 2019, AdC fined 14 banks a total of 225 million euros ($248.6 million) for concerted practices of exchanging sensitive commercial information on credit products. The fines were imposed on Portugal’s biggest bank at the time, [[Caixa Geral de Depósitos]], as well as [[Portuguese Commercial Bank|Millennium BCP]], [[Banco Bilbao Vizcaya Argentaria|BBVA]], Banco BIC Português, [[Banco Português de Investimento]] (BPI), [[Banco Espírito Santo]], [[Banif Financial Group|BANIF]], [[Barclays]], Caixa de Credito Agricola, [[Montepio (bank)|Montepio]], [[Santander]], [[Deutsche Bank]] and Unión de Créditos Inmobiliarios (UCI).<ref>Catarina Demony and Sergio Goncalves (9 September 2019), [https://www.reuters.com/article/portugal-banks-fine-idUSL5N2605VE Portugal competition watchdog fines banks over concerted practices] ''[[Reuters]]''.</ref>


In 2020, AdC imposed fines worth a total 304 million euros on six supermarket chains, including retailers [[Sonae]] and [[Jerónimo Martins]], and two beverage suppliers for illegally fixing prices between 2008 and 2017.<ref>Sergio Goncalves (21 December 2020), [https://www.reuters.com/article/portugal-retail-fines-idUSL8N2J14ZI Portugal's competition authority fines 6 retail chains 304 mln euros] ''[[Reuters]]''.</ref>
In 2020, AdC imposed fines worth a total 304 million euros on six supermarket chains, including retailers [[Sonae]] and [[Jerónimo Martins]], and two beverage suppliers for illegally [[Price fixing|fixing prices]] between 2008 and 2017.<ref>Sergio Goncalves (21 December 2020), [https://www.reuters.com/article/portugal-retail-fines-idUSL8N2J14ZI Portugal's competition authority fines 6 retail chains 304 mln euros] ''[[Reuters]]''.</ref>


==See also==
==See also==

Revision as of 06:24, 17 August 2022

The Autoridade da Concorrência (AdC) is the Portuguese name for the country's competition regulator, an organisation established to ensure fair commercial competition in Portugal.

Notable cases

In 2017, AdC ruled to fine the Portugal’s largest company, the utility EDP Group, 28.7 million euros ($31.54 million) and retailer Sonae 9.6 million euros for an illegal non-competition pact between their subsidiaries; under a 2012 agreement, Sonae had committed itself to not competing against EDP in electricity trading in Portugal for two years.[1]

In 2019, AdC fined four insurance companies a total of 54 million euros ($59.6 million) for “cartel practices”, with the biggest fines imposed on the local branch of Zurich Insurance Group and Portuguese insurer Lusitania.[2]

Also in 2019, AdC fined 14 banks a total of 225 million euros ($248.6 million) for concerted practices of exchanging sensitive commercial information on credit products. The fines were imposed on Portugal’s biggest bank at the time, Caixa Geral de Depósitos, as well as Millennium BCP, BBVA, Banco BIC Português, Banco Português de Investimento (BPI), Banco Espírito Santo, BANIF, Barclays, Caixa de Credito Agricola, Montepio, Santander, Deutsche Bank and Unión de Créditos Inmobiliarios (UCI).[3]

In 2020, AdC imposed fines worth a total 304 million euros on six supermarket chains, including retailers Sonae and Jerónimo Martins, and two beverage suppliers for illegally fixing prices between 2008 and 2017.[4]

See also

External links


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  1. ^ Andrei Khalip (1 August 2017), Portugal antitrust authority slaps large fines on EDP, Sonae Reuters.
  2. ^ Catarina Demony (1 August 2019), Portugal competition watchdog fines insurers over cartel practices Reuters.
  3. ^ Catarina Demony and Sergio Goncalves (9 September 2019), Portugal competition watchdog fines banks over concerted practices Reuters.
  4. ^ Sergio Goncalves (21 December 2020), Portugal's competition authority fines 6 retail chains 304 mln euros Reuters.
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