The media has reported that the Office of the Special Prosecutor has issued charges following an investigation into alleged breaches of competition law by employees of Byko, Húsasmiðjan and Úlfurinn. A breach of the competition law prohibition on collusion can, on the one hand, result in criminal penalties for employees and directors, and on the other, administrative sanctions for companies. The police investigate the actions of individuals, and the Competition Authority, the actions of companies.
In light of the above discussion and questions, the Competition Authority wishes to make the following statement:
Concurrent with the police investigation into alleged offences by the companies' employees, the Competition Authority has been investigating a possible breach by the companies concerned of the ban on illegal collusion, an offence which can result in, amongst other things, administrative fines for the companies. The Competition Authority has now sent an objection notice to those representing the parties in the case against Byko and Húsasmiðjan. The statement of objections contains a description of the events of the case and a preliminary conclusion regarding the alleged infringements. The statement gives the companies concerned the fullest opportunity to familiarise themselves with the case and to exercise their right of reply.
Subsequently, the Competition Authority will process the parties' submissions and make a decision in the matter. At this stage, it is not known when a decision will be made, but this will depend, among other things, on the responses of the companies in question.
The origins of the case can be traced to searches carried out by the Economic Crime Department of the National Police Commissioner, in cooperation with the Competition Authority, at the premises of Byko, Húsasmiðjan and Úlfurinn on 8 March 2011. The Competition Authority had previously referred the matter to the Economic Crime Department.
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