The Dutch Competition Authority (NMa) imposed fines on two former CEOs of an undertaking for their non-cooperation in an NMa investigation. Each individual was fined EUR 150,000.
As part of their investigation into alleged violations of the Dutch Competition Act by that undertaking, the NMa demanded information from the two former managing directors, who left the undertaking in 2006. Everyone is obliged to cooperate in such an investigation according to the Dutch General Administrative Law Act. Both former CEOs failed to provide information to the NMa and repeatedly refused to answer questions put to them. This constitutes a clear violation of their legal obligation to cooperate. In such circumstances, the NMa is authorised to impose a maximum fine of EUR 450,000 on them.
When determining the level of the fine, the NMa took the financial position of the individuals into account. This calculation had to be done by means of an estimate, as both former CEOs refused to provide information concerning their financial positions. Considering the severity of the violation as well as their unwillingness to cooperate, the NMa set the fine at EUR 150,000 per person.
NMa website, press release 09-15, dated 10 July 2009