Competitors Bureau will host public data classes and publish up to date steering for companies
GATINEAU, QC, June 24, 2022 /CNW/ – Vital amendments to the Competitors Act turned regulation on June 23, 2022, strengthening the Competitors Bureau’s capability to guard Canadian shoppers, companies and employees from anti-competitive conduct.
Notably, these amendments:
- improve most fines and penalties for individuals who break the regulation;
- prohibit wage-fixing and no-poach agreements between employers;
- make clear that incomplete value disclosure—drip pricing—is a misleading advertising and marketing apply;
- permit non-public entry to the Competitors Tribunal for these impacted by abuse of dominance; and
- allow simpler enforcement in immediately’s digital economic system.
The amendments come into impact instantly, excluding the modifications to the prison conspiracy provision, which improve potential fines and prohibit wage-fixing and no-poach agreements. These modifications will come into impact subsequent 12 months on June 23, 2023. This enables companies time to make sure they’re in compliance with the regulation.
For extra details about the amendments and their impression, please seek the advice of the Bureau’s Information to the 2022 amendments to the Competitors Act.
The Bureau will host public on-line data classes within the coming weeks to additional inform stakeholders concerning the new provisions of the Competitors Act. An announcement concerning the dates of the knowledge classes will observe quickly.
The Bureau may even work with stakeholders to implement the amendments in probably the most open and efficient approach doable. This can embrace reviewing and updating the Bureau’s enforcement steering to make sure transparency and predictability for the enterprise and authorized communities.
“The amendments coming into impact are an vital step in modernizing Canada’s competitors regulation and constructing a extra aggressive Canadian economic system. The Competitors Act applies to all companies working in Canada. Going ahead, the Competitors Bureau will guarantee companies have readability on learn how to adjust to the regulation, and predictability with respect to the Bureau’s enforcement of the brand new provisions.”
Commissioner of Competitors
- The amendments to the Competitors Act are a part of the Authorities of Canada’s Funds Implementation Act, 2022 (Invoice C-19), which was enacted on June 23, 2022.
- The Competitors Bureau will actively take part within the Authorities of Canada’s ongoing evaluate of the Competitors Act to additional modernize and enhance its operation, to the good thing about all Canadians.
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The Competitors Bureau is an impartial regulation enforcement company that protects and promotes competitors for the good thing about Canadian shoppers and companies. Competitors drives decrease costs and innovation whereas fueling financial development.