KUALA LUMPUR, Oct 16 (Bernama) — The Malaysia Competition Commission (MyCC) has finalised and published its Guidelines on Leniency Regime and Financial Penalties after a nationwide public consultation earlier this year.
In a statement here Thursday, the commission said both guidelines were based on the statutory framework of the Competition Act 2010 and were not a substitute for the Act or any regulations issued thus far.
MyCC chief executive officer, Shila Dorai Raj, said these guidelines offered a framework for enterprises to understand the way the MyCC would interpret the relevant sections pertaining to leniency and penalty.
She said the enterprises should conduct self-assessments of their businesses in respect of their conduct, procedures, management and control to avoid serious implications arising from infringements.
The documents are available for viewing and download from the MyCC website, www.mycc.gov.my from Thursday.
— BERNAMA
