Law360, New York ( December 20, 2011, 2:23 PM EST) -- The Legislative Yuan of Taiwan has passed new amendments to its Fair Trade Law (FTL). One of the amendments adopts a leniency program for cartel investigations, which has been a common practice in the U.S., EU, and other jurisdictions for a number of years. Another raises the monetary penalty cap for monopolies and cartels to 10 percent of the violator's annual turnover. In addition, for cases of false advertising, the amendments impose joint and several liability on the advertising agent and any person who recommends a specific product or service knowing that such recommendation is likely misleading. The amendments will take effect after the president's announcement, likely by the end of 2011....
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