S. Africa Hits Concrete Co. With Record Cartel Fine

Law360, New York (November 30, 2010, 2:34 PM EST) -- South Africa's competition court has hit Southern Pipeline Contractors with a 16.8 million rand ($2.4 million) penalty for playing the role of banker in a long-running concrete pipes cartel in the country, issuing the maximum possible fine for the first time in a price-fixing case.

South Africa's Competition Tribunal on Monday opted for the top fine against SPC — 10 percent of its total turnover — and issued a slightly lesser penalty of 6.1 million rand against Conrite Walls (Pty) Ltd. — or about 8 percent...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.