COMCO is an acronym for Competition Commission, which refers to an independent regulatory body responsible for enforcing competition laws and promoting fair competition in a specific country or jurisdiction. The term "COMCO" is often used to describe the competition authority in Switzerland.
The primary objective of COMCO is to ensure that businesses operate in an open and competitive market environment, benefiting both consumers and the overall economy. It achieves this by investigating and taking action against anti-competitive practices, such as price fixing, market sharing, abuse of market dominance, and collusion among businesses.
COMCO is empowered to conduct investigations into suspected anti-competitive behavior, either on its own initiative or based on complaints received from individuals or companies. It has the authority to gather evidence, impose fines, and require companies to modify their behavior or practices to comply with competition laws.
Additionally, COMCO has the responsibility to review and approve mergers and acquisitions that may significantly impact market competition. It assesses the potential anti-competitive consequences of such transactions and may impose conditions or prohibit deals that could harm competition.
Overall, COMCO plays a crucial role in promoting a level playing field, preventing unfair business practices, and safeguarding the interests of consumers and the economy as a whole.
