The Competition Authority has reported on its website
an ongoing investigation into the management and ownership structures of companies in the fisheries sector,
Compare with the news that day 5.
October 2022 and 17.
April 2023, but the latter news introduced a special Information page
about the inspection.
The information page includes, among other things Project plan
the investigation, where the decision of the Competition Authority is explained and discussed
its premises and content. Then the framework of the investigation is described, thereon
including the recruitment of an expert in the field of database design and data analysis and
the establishment of an advisory group of external experts/scholars in the field of competition and
Data analysis.
The project plan states that the inspection
be based on databases in the public sector, which are used for
Analysis of management and ownership relationships. A great deal of work has been done on this.
scope and the Competition Authority has now gained access to the main databases and
Keep a record of the information used for the investigation.
However, the investigation is based on information gathering from
to fisheries companies, as explained in more detail in the project plan.
The data collection began with a letter to a number of fisheries companies, with a letter
dated the 5th of April last. The vast majority of companies responded well.
the request and provided the requested information. In a few cases, however, changes were made.
comments on the review and information provided subject to that reservation.
One company, Brim hf., has, however, not yet granted
important information and data that were requested. Has it inevitably
Delay the investigation.
After repeated correspondence, the Competition Authority has now
decide to exercise the authority provided for in Article 38 of the Competition Act
to impose daily penalties on the company. As a result, Brim is required to pay daily penalties.
to the amount of 3,500,000 kr.
per day, until the requested information and data have been provided. Start
the daily penalties shall be calculated after fourteen days have passed from the decision on
her, in accordance with Article 39 of the Competition Act.
The Competition Authority's decision on fines
Brim, No. 29/2023, is available here.
As previously noted, several companies, including
Brim and Guðmundur Runólfsson Ltd., made comments or reservations regarding
the observation and the data collection based on it. In particular, it is noted that
The Competition Authority and the Ministry of Food have made an agreement which provides
the authority has the financial scope to undertake the investigation. In
Among other things, the companies' comments lament the likelihood that the contract
to reduce the independence of the Competition Authority.
For this reason, as well as due to a request on the basis of
The information notice concerning the conclusion of the aforementioned agreement has been published on
information page regarding the review. Furthermore, he is available here.
In light of the above comments, it is still rather correct that
to emphasise that the Competition Authority's investigation is based on Article 8(1)(d).
competition law, which provides for the role of the Competition Authority to
To examine the management and ownership connections in Icelandic business life and write about it.
reports. The supervisory authority's data collection is then based on clear provisions in Article 19.
competition law.
The aforementioned agreement enables the Competition Authority
to carry out an inspection consistent with the statutory duties of the supervisory authority and it had
intending to undertake, for example, to establish the supervisory authority's priorities for the year 2022-2024
and 2023-2025,
in addition to the previous rulings of the supervisory authority on mergers of fisheries companies
bear with them that the supervision has considered it necessary to better analyse the management-
and property connections in this field.
According to the agreement, the objectives of the Minister of Food are
to promote transparency in the ownership of fisheries and seafood companies, informed
strategic planning, that at all times the laws and regulations in this field are complied with and that
that supervisory authorities can carry out their role and cooperate with one another. In accordance with Article 8 of the Presidential Decree on the allocation
of inter-ministerial affairs in the Cabinet Office of Iceland, no. 6/2022, goes
The Ministry of Food handles matters concerning fisheries.
The contract contains
it is clearly stipulated that he shall not interfere with the independence of the Competition Authority in
of its findings. The review does not then involve a decision on interventions on the basis of
competition law or decisions on further investigations, but the project is aimed solely
to enable the supervisory authority to publish a report in accordance with Article 1(d).
Article 8 of the Competition Act. In this way, increased transparency regarding ownership and
Management relations in a fundamental sector of Icelandic business life.
According to the Competition Authority's work programme (chapter
4) is aimed at increased cooperation between public institutions, in parallel with this review.
which have a role in the supervision of or collection of information about
management and ownership relationships. Would that cooperation aim to enhance accessibility
to provide the relevant institutions with necessary information and to promote the joint use of information systems,
as well as to enhance knowledge and the effective use of knowledge in this field.
The intention is to utilise experience from a study of management and
Ownership links between fishing companies to strengthen cooperation between them.
institutions.
The Week
is stipulated in the agreement between the Competition Authority and the Ministry of Food. Therefore
However, it should be noted that the aforementioned strengthening of cooperation is independent.
projects and in that sense independent of the Competition Authority's scrutiny of management-
and ownership links in the fisheries sector. Is that investigation carried out entirely on the basis of
competition law and therefore under the responsibility of the Competition Authority.
"*" indicates required fields
