Hong Kong: first judgment on competition penalties. Daniel Beard QC acted for the Commission
The Competition Tribunal has handed down the first judgment imposing financial penalties for infringement of the Hong Kong competition regime. At the invitation of the Competition Commission who brought the case under Hong Kong’s prosecutorial model, the Tribunal took the opportunity to set out the principles to be applied in setting penalties. It has adopted an approach broadly in line with EU and UK practice. It also held that civil rules on costs should apply meaning that people found to have infringed can be required to pay the Commission’s costs of bringing cases before the Tribunal.
Daniel Beard QC acted for the Commission (assisted by counsel from Temple Chambers in Hong Kong).