Anti-competitive activity.

[Dave A]

I was reading that Tiger Brands got slapped with a R98 million penalty for anti-competitive practices. And apparently that was relatively lenient for being co-operative.

Tiger Brands has been ordered to pay a R98,7-million penalty by the Competition Commission after admitting to participating in bread and milling cartels, the commission announced on Monday.

Tiger Brands also agreed to assist the commission in prosecuting remaining cartel members who have not cooperated with the commission.

It will implement a programme to eradicate anti-competitive practices in the company.

In December last year, Western Cape bread distributors complained about alleged bread and milling cartels. An investigation that ensued found Tiger Brands to be involved in illegal price-fixing in the bread industry, along with, among others, Premier Foods and Pioneer Foods.
full story from M&G here

In this case it was price-fixing, but does anyone have any ideas on what else might be considered an anti-competitive activity?

[Dave A]

Stand by for fireworks. This has just got really serious.

A report on anti-competitive behaviour by South Africa's four major banks will have "serious implications" for the sector, says the Competition Commission.

"The sheer volume of information received has enabled us to analyse the anti-competitive outcomes we have noted. Our findings will have serious implications for the sector," the head of the inquiry, Thabani Jali, said in a statement issued on Thursday.

The release of the report will be delayed as the commission is taking time to make sure it is "thorough and well-considered".
full story from M&G here

The report comes from the public hearings on banking fees last year.

I also recall seeing a call the other day that a maximum penalty of 10% of annual turnover simply wasn't enough. In this case, I suspect 10% of annual turnover would be a pretty tidy sum.