Press release – The Competition Authority publishes its annual report: Changing environment – stronger oversight.

Press release
from the Competition Authority

Changing environment – stronger oversight
(PDF document – Opens in a new window)

The Competition Authority's Annual Report, which was published today, Thursday 30 August, is entitled 'Changed Environment – More Effective Oversight'. To mark the publication of the report, the Competition Authority's new premises at Borgartún 26 were formally opened, where the Minister of Trade addressed those present.

The publication discusses the priorities of the Competition Authority and how they have been pursued. It also outlines recent amendments to competition law intended to strengthen its enforcement. Changes to the organisation and rules of procedure are described, which are aimed at more targeted work practices by the Authority, the speed of its case handling is discussed, and more.

The main points of the annual report are:

• The Competition Authority has spent around 20 per cent of its disposal time on matters related to the food market, from mid-2006 to mid-this year. During that period, around 30 administrative cases related to the food market have been handled.
• It is very important that there is effective competition in general banking services. For this reason, financial activities are among the sectors of the economy on which the Competition Authority places its main emphasis in its work.
• Under the new law, the Competition Authority may decide not to report to the police individuals who disclose competition law infringements and assist in their investigation.
• In 2006, the Competition Authority concluded 104 administrative cases, but took up 106 new cases for consideration. The age profile of cases is improving, as a proportionally smaller number of cases are now six months or older than a year ago, and the proportion of younger cases is correspondingly higher.

In the foreword to the annual report by Gylfi Magnússon, Chairman of the Competition Authority, it states:

„Although the Competition Authority primarily monitors the activities of domestic companies, it is inherent in its role that the institution must also do what is in its power to ensure that competition from foreign parties in this country benefits Icelandic consumers.

In the introduction by Páll Gunnar Pálsson, CEO, it says:

“It is crucial that businesses, the government and consumers prioritise a healthy competitive environment in the transformations currently taking place in Icelandic business life. Everyone has a role to play in this.”

Further information is provided by:
Páll Gunnar Pálsson, Director of the Competition Authority, telephone 585 0700.