Regulation On Fines, An Illusion Or A True Harmonization With The EU Law?

Regulation on Fines to Apply in Cases of Agreements, Concerted Practices and Decisions Limiting Competition, and Abuse of Dominant Position ("Regulation on Fines" or "Regulation") has into force through publication in the Official Gazette dated 15.02.2009 and numbered 27142. The Regulation on Fines was prepared based on articles 16 and 27 of the Act on the Protection of Competition numbered 4054 (the "Competition Act). Article 16 of the Competition Act regulates financial fines to undertakings or members of undertakings who engage in anti-competitive activities, which are banned under competition law. Article 27 of the Competition Acts stipulates that ,the Competition Board ("Board") is the authorized body to impose such administrative financial fine.