Non-resident companies operating in Romania that break the local competition regulations will pay fines based on their global turnover after the Competition Law was amended, explained Bogdan Chiritoiu, president of Romania's Competition Council.

Last week, the Government approved an emergency ordinance - OUG 170/2020 - that amends the Competition Law.

"For companies not registered in Romania, we will decide fines based on their global turnover. For companies registered in Romania, the fines will continue to be based on the turnover made in Romania. The fines must be so high as to discourage companies from breaking the law," Chiritoiu said, Adevarul reported.

He added that the amendments follow a new European competition directive, called the ECN + Directive, which aims to strengthen the power of competition authorities in member countries.

andrei@romania-insider.com

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