Kilpailulain

Kilpailulaki is the Finnish Competition Act. It is the primary legislation governing competition law in Finland. The purpose of the act is to promote competition in the markets for goods, services, and production factors, thereby contributing to efficient resource allocation, consumer welfare, and the vitality of Finnish businesses. The act prohibits agreements and concerted practices that restrict competition, such as price-fixing, market sharing, and bid rigging. It also regulates the abuse of a dominant market position, preventing undertakings from exploiting their market power to the detriment of competitors or consumers. Furthermore, Kilpailulaki sets out the rules for merger control, requiring parties to notify significant mergers and acquisitions to the Finnish Competition and Consumer Authority (KKV) for review if certain turnover thresholds are met. The KKV is responsible for enforcing the act, investigating potential breaches, and imposing penalties. Violations of Kilpailulaki can result in significant fines and other remedies. The act is aligned with the competition rules of the European Union, ensuring a consistent application of competition principles across member states.