In Costa Rica, a bill is in progress that contemplates eliminating fines for the first member of a cartel that recognizes and denounces to the authorities that has engaged in monopolistic practices.
As part of the bills for Costa Rica's entry into the OECD, deputies voted in second debate file No. 21.303, Law strengthening the competition authorities of Costa Rica, reported last August 29 the Legislative Assembly.
As of April 5 mergers and acquisitions will have to be approved at the Antitrust Commission, part of the Ministry of Economy, Industry and Trade, before they can take place.
From that date, the Antitrust Commission, at the Ministry of Economy, Industry and Commerce (MEIC), will have the power to approve or deny deals, if it is concluded that they would result in undue concentration of business.
A new bill in Panama provides guarantees in real estate development and makes tips voluntary, among other topics.
From a statement by the Authority for Consumer Protection and Competition (ACODECO):
ACODECO presented to the press a proposal which contemplates reforming Law 45 on Consumer Protection. The general manager of this entity, Pedro Meilan said that in the past, comments have been made over some points, mainly concerning housing, where the amounts are substantial and it is perhaps one of the main aspirations of human beings, to own their own homes.
The Law on Promotion of Competition and Effective Consumer Protection recently approved typifies monopolistic practices and changes the rules on economic groups.
Two of the most important changes are expanding the scope of the law, which now includes public service employees in cases of concessions and the introduction of a new absolute monopolistic practice: the agreement between competitors to 'refuse to buy or sell goods or services'.
"The monopoly itself is not the problem, the problem is the abuse that is committed" Erick Coyoy, Minister of Economy.
The main priorities set by the Minister of Economy revolve around the obligations of the country and the region, the agreements reached with the European Union, which refer to integration of the isthmus and in particular customs and promoting market competition.