CNMC says Audiencia Nacional suspends “each and every one” of fines it imposes on companies

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The president of the National Markets and Competition Commission (CNMC), Cani Fernández, said during her appearance before the Economic Affairs Committee of Congress that the National High Court “suspends each and every one” of the fines that the regulator imposes on companies.
Fernández explained that, in her opinion, the court orders the precautionary suspension of the sanctions because, in its analysis, where it evaluates the general interest and the damage that the sanction may cause to the company, “the latter must take precedence”.

The president of the CNMC has confirmed that currently the ban on companies signing contracts with the Public Administration for practices that infringe the law “is not being applied”, either because it has to be applied by the Public Sector Contracts Advisory Board, or because all the companies request the precautionary suspension of the fine.

Against this backdrop, and in view of the criteria for imposing a ban on contracting with the public administration, Fernández has indicated that the body she heads will now include in its own resolutions the duration and scope of the ban, taking into account the maximum of three years established by law.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.