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THE Competition Commission of Singapore (CCS) is seeking feedback on wide-ranging changes to guidelines and processes, including proposals for an enforcement fast-track and tweaks to the leniency framework.
The CCS plans to add numerous explanations and clarifications to its published guidelines on the substantive assessment of mergers to help businesses better conduct their self-assessment.
The commission also plans to introduce a fast-track framework that will offer a 10 per cent reduction in financial penalties for investigated parties that admit their liability in participating in anti-competitive activity and who agree to the fast-track process.
Coercers and initiators of cartel activity who come forward with information may also be eligible for leniency under proposed changes, although proposed revisions may also demand more from whistleblowers, including unconditional admittance of anti-competitive actions and waivers of confidentiality in other jurisdictions.