Competition Bureau will host public information sessions and publish updated guidance for businesses
GATINEAU, QC, June 24, 2022 /CNW/ - Important amendments to the Competition Act became law on June 23, 2022, strengthening the Competition Bureau's ability to protect Canadian consumers, businesses and workers from anti-competitive conduct.
Notably, these amendments:
- increase maximum fines and penalties for those who break the law;
- prohibit wage-fixing and no-poach agreements between employers;
- clarify that incomplete price disclosure—drip pricing—is a deceptive marketing practice;
- allow private access to the Competition Tribunal for those impacted by abuse of dominance; and
- enable more effective enforcement in today's digital economy.
The amendments come into effect immediately, with the exception of the changes to the criminal conspiracy provision, which increase potential fines and prohibit wage-fixing and no-poach agreements. These changes will come into effect next year on June 23, 2023. This allows businesses time to ensure they are in compliance with the law.
For more information about the amendments and their impact, please consult the Bureau's Guide to the 2022 amendments to the Competition Act.
The Bureau will host public online information sessions in the coming weeks to further inform stakeholders about the new provisions of the Competition Act. An announcement regarding the dates of the information sessions will follow soon.
The Bureau will also work with stakeholders to implement the amendments in the most open and effective way possible. This will include reviewing and updating the Bureau's enforcement guidance to ensure transparency and predictability for the business and legal communities.
"The amendments coming into effect are an important step in modernizing Canada's competition law and building a more competitive Canadian economy. The Competition Act applies to all businesses operating in Canada. Going forward, the Competition Bureau will ensure businesses have clarity on how to comply with the law, and predictability with respect to the Bureau's enforcement of the new provisions."
Matthew Boswell
Commissioner of Competition
- The amendments to the Competition Act are part of the Government of Canada's Budget Implementation Act, 2022 (Bill C-19), which was enacted on June 23, 2022.
- The Competition Bureau will actively participate in the Government of Canada's ongoing review of the Competition Act to further modernize and improve its operation, to the benefit of all Canadians.
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
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