The CPC Fined The Bulgarian Commodities Exchange with 1775 BGN for Unfair Competition

Finance | November 15, 2017, Wednesday // 11:44|  views

The Commission for Protection of Competition (CPC) has imposed a fine of BGN 1,775 on "Bulgarian Commodities Exchange" AD for unfair competition, the anti-monopoly agency said.

The proceedings were initiated at the request of Sofia Commodities Exchange AD.

The violation of the Bulgarian Commodities Exchange is that there is no charge for buyers who enter into public procurement deals. "The lack of a fee due in respect of the members of the Exchange which represent final customers as contracting entities under the Public Procurement Act and the fact that those persons are in a favorable position vis-à-vis other purchasers inevitably influences the commodities market, thus affecting the interests of competitors contrary to good commercial practice, "the CPC said in its decision.

For that reason, the anti-monopoly body imposes a pecuniary sanction amounting to 0.5 percent of the net sales revenue of the Bulgarian Commodities Exchange for the financial year 2016, which is equal to 1775 levs.

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Tags: Bulgarian Commodities Exchange, fine, CPC


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