Enforcement & Sanctions Weekly Digest: 23 – 27 September 2024

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Summary:

The document provides an update on recent enforcement actions and sanctions around the G-20 nations.-Key Enforcement Actions:

In Brazil, the Administrative Council for Economic Defense (CADE) fined participants of a 20-year salt cartel for price-fixing and market division, and medical cooperatives in Espu00edrito Santo for anticompetitive practices.
In Canada, the Competition Bureau fined Cineplex nearly $39 million for deceptive drip pricing related to online booking fees.
In the European Union, the European Commission conditionally approved e&'s acquisition of parts of PPF Telecom, subject to compliance with competition-related commitments, and conducted unannounced antitrust inspections on financial services companies suspected of restrictive practices involving financial derivatives.
In France, the National Agency for the Safety of Medicines and Health Products (ANSM) fined 11 pharmaceutical laboratories nearly u20ac8 million for failing to maintain the mandated 4-month safety stock of essential medicines.
In India, the Reserve Bank of India (RBI) imposed a penalty on The Surat People's Co-operative Bank Limited for non-compliance with various regulatory guidelines.
In Japan, the Japan Fair Trade Commission (JFTC) issued a recommendation to SANEI Co., Ltd. for violating the Subcontracting Act by unfairly reducing subcontractor fees and requesting undue economic benefits.
In the United Kingdom, the Chancellor announced investigations into over u00a3600 million of COVID contracts, following Transparency International UK's study identifying 135 high-risk contracts worth u00a315.3 billion with corruption concerns.
In the United States, the Financial Crimes Enforcement Network (FinCEN) took coordinated actions against Russian virtual currency exchanges PM2BTC and Cryptex, along with individual Sergey Sergeevich Ivanov, due to their involvement in cybercrime and money laundering associated with illicit finance.