April showers bring May flowers? A hive of activity in Hong Kong competition law enforcement
Last week was a hive of activity for competition law enforcement in Hong Kong. On 29 April, the Competition Tribunal handed down its first judgment on penalties and costs in respect of the Decorators’ cartel case. This now sets down a systematic approach to penalties for future cases. It was also announced that a MoU was entered into between the Competition Commission and the Hong Kong Securities and Futures Commission to formalise their collaboration. These significant milestones coincided with the appointment of a new Competition Commission Chairperson and new members of the Commission. Together they reflect a trend towards enhanced enforcement, increased legal certainty and a heightened desire to deter and punish businesses and individuals engaged in anti-competitive conduct.
