Competition Council head: Bucharest Court’s decision to cut the BRD fine to RON 100,000 is weird

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The fine of EUR 4 million imposed to BRD – Groupe Societe Generale by the Competition Council for barring inspection in 2008 was reduced to RON 100,000 by the Bucharest Court, the decision is final and considered “weird” by the President of the Competition Council, Bogdan Chiri?oiu.

“Some decisions seem strange to us, like that of the Bucharest Court a few weeks ago, the panel went against the practice of the court. I do not see how BRD may be frightened by a fine of RON 100,000; how can one imagine this would discourage someone to infringe the law when a company like BRD cannot be sanctioned by more than RON 100,000? It is a final and binding decision and soon we’ll have to apply it,” said Chiri?oiu.

He said that the initial fine given by the Competition Council was EUR 4 million for denial of the right to inspection in 2008.

“The court’s motivation was the need to apply the law according to the general scheme of offenses, which limits the fine to RON 100,000 and the application of the general legislation over the special legislation on competition,” said President of the Competition Council.

Chiri?oiu reminded, however, that a similar case that involved Raiffeisen Bank was ruled by the same court on the same investigation, which imposed a penalty of EUR 1 million. “The Raiffeisen bank was fined EUR 1 million, but BRD was fined only EUR 20,000” said Chiritoiu.

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