A recent article co-authored by Competition/Antitrust Partner, Ayal HaCohen, and Associate, Roi Krause, and published by the International Law Office, explores the latest amendment to Public Statement 1/16: Considerations of the Competition Commissioner to determine the financial penalty, recently issued by the Israel Competition Authority (ICA).
In recent years, the ICA has gradually stepped up enforcement by means of financial penalties for technical violations and infringements that produce meaningful competitive concerns. In early 2019, the maximum financial penalty was quadrupled from ILS 24 million (approximately €6 million) to ILS 100 million (approximately €26 million). The public statement sets out a seven-stage methodology to calculate the financial penalties imposed on corporations and office-holders.
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