WILLEMSTAD - The Fair Trade Authority Curaçao (FTAC) has imposed substantial fines on five supermarkets for violating fair competition laws. The penalties, ranging from ANG 270,000 to ANG 450,000, aim to underscore the importance of cooperating with regulators to ensure a fair marketplace. The FTAC announced the sanctions in an official statement published in the Landscourant (National Gazette).
Fined Supermarkets
The supermarkets penalized and their respective fines are:
Arco Iris Supermarket: ANG 270,000
New California Supermarket: ANG 400,000
Zhao’s Arti’s Supermarket BV: ANG 450,000
Sure Minimarket: ANG 450,000
Mangusa Supermarket: ANG 450,000
Lack of Cooperation with FTAC
The fines stem from an investigation conducted on June 28, 2024, during which FTAC determined that the supermarkets failed to meet their legal obligation to cooperate. The authority had repeatedly requested data from the businesses to verify compliance with fair competition regulations. Some supermarkets did not respond, while others provided insufficient information.
According to FTAC, the fines are based on Article 7.11, Paragraph 1, of the National Ordinance on Competition. This article mandates that businesses must cooperate with investigations conducted by the regulator. FTAC emphasized that these penalties are crucial to enforcing compliance and ensuring a fair competitive environment.
Public Review and Appeal Process
From December 27, 2024, the documents related to the case will be available for public review for six weeks, excluding confidential information. During this period, interested parties may file appeals against the sanctions with the Court of First Instance. The supermarkets involved also have six weeks to formally object to the fines.
The FTAC hopes these measures will serve as a warning to other businesses and reinforce the importance of adhering to Curaçao's fair competition laws.