Enforcement against cartels has been relatively quiet as of late, with the number of leniency applications and cartel decisions worldwide having declined in 2020 as compared to 2015. However, with the world gradually adapting to the ’new normal’ and the removal of pandemic-era restrictions, competition authorities worldwide, including the Competition and Consumer Commission of Singapore ("CCCS"), are looking at cartel enforcement with a renewed interest.
It is therefore critical for businesses in Singapore to be alert to possible infringements under Singapore’s competition laws and review their business practices accordingly. This is particularly since the trend in CCCS’s cartel enforcement prior to the pandemic demonstrate its increasingly strict stance and stiff penalties for infringing businesses.
This Update highlights the trends in CCCS’s cartel enforcement with reference to case statistics, and provides practical pointers for businesses to consider.