“Companies can be penalized for mistakes of their employees in competitive activities”

Companies must know that they can be sanctioned for any prohibited activity that their employees perform with regards to competition and that fines can be up to 10% of their sales figures of the previous year. That was the resounding message that Amadeo Petitbò, former spokesperson and president of the Competition Defense Court, wanted to convey during his speech at the last edition of the  Degussa Forum (Encuentros Degussa), held this week at the company’s headquarters in Madrid under the title “Watch out! The CNMV can sanction me.”

Professor Petitbò explained in a very didactic or instructive way and using real cases a series of forbidden behaviors that many times “neither managers nor employees were aware of.” Some behaviors with which, he said, “we must be very careful because breaching legislation that regulates competition, overseen by the National Commission of Markets and Competition, can be expensive and have a high reputational cost.”