December 31st, 2009
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Fines issued by Competition Office jump 800% in 2009

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Hungary’s Competition Office (GVH) levied combined fines of HUF 5.83bn in 2009, well over the HUF 716m in 2008 as the number of big cartel cases and instances companies misled consumers grew, GVH said on Tuesday.

GVH levied the fines in 47 resolutions in 2009. It levied fines of HUF 828m in 41 resolutions for misleading consumers.

Almost 1,500 consumer complaints arrived at GVH in 2009, down from about 2,000 in 2008.

GVH paid close attention this year to consumer protection in the financial sector, especially with regard to group purchase schemes and life annuity products, as well as to multinational cosmetics sellers that made unfounded claims about their products.

GVH started 29 cartel investigations in the course of the year and levied fines in six cases that it closed.

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  1. JD says:
    January 3, 2010 at 1:07 am

    Let’s just hope that Hungary’s Competition Office’s
    motivation is honourable and not just another way to
    tax companies and raise government revenue.

    My only official experience reporting unfair
    business practices in Hungary ended in the response,
    “they can do what they want”.

    You gotta love ‘em!