The Indian Department of Consumer Affairs and the US Consumer Product Safety Commission have entered into an agreement to help improve consumer product safety. The agreement aims to ensure that consumer products from India will now comply with US standards for consumer product safety. This will improve the standard of product safety in India, as well as help Indian exporters gain greater access to the lucrative US market.
Canadian fine paper merchants receive record fines
Three fine paper merchants, Cascades Fine Papers, Unisource Canada and Domtar have pleaded guilty to anti-competition charges relating to the sales of carbonless sheet paper in Ontario and Quebec during 1999 and 2000. The companies have each been fined a record A$14 million for their role in the conspiracy and must introduce compliance training and reporting.
Japanese law introduced to smash industry cartels
Japan recently introduced new anti-monopoly laws that include an offer of amnesty and confidentiality to the first company to blow the whistle on a cartel.
It is thought by many that mid-sized businesses—particularly those in the construction business—that have long relied on price fixing when bidding for government contracts will be severely affected by the new laws.
The new law allows the regulator to hit offenders, or even suspected offenders, with a three-year ‘red card’, preventing them from bidding for any contract during that period.
