Taiwan to Introduce Leniency Program to Antitrust Enforcement

Taiwan's Fair Trade Commission (FTC) has finalized a draft proposal aiming to introduce the so-called leniency program into the antitrust enforcement in Taiwan.  According to this proposed leniency program, the first to inform the authority about an agreement on concerted action will be dispensed with the pecuniary penalty, which under the current law can be up to 25 million NT dollars. In order to increase the incentitives for the leniency program to work effectively, it is also proposed to increase the current maximum fine from 25 million NT dollars to a maximum of 100 million NT dollars.  A legislator proposed to increase the amount of fine to a maximum of 10% of the annual turnover of the violator, as he thought it would be more effective if a higher fine can be imposed.  The Commissioner of the FTC explained in a news conference that due to the increasing global market shares of the products supplied by Taiwan's electronics industries, it is important to increase awareness of antitrust law at a local level to avoid more costly consequences resulting from international enforcement actions.