The National Market and Competition Commission (CNMC) has launched investigations in the financial services, funeral and manufacturing of health protection products markets, in view of the complaints received during the first week of operation of your mailbox to alert about possible anti-competitive practices developed during confinement by the coronavirus.
Regarding the financial sector, the CNMC analyzes the requirement by some financial entities of an additional guarantee (in particular, the subscription of life insurance ) for the granting of loans guaranteed with the guarantee of the State (the lines of ICO credit) and other financial aid derived from extraordinary regulations before Covid-19. The CNMC reviews whether this requirement would constitute unfair conduct that, by distorting free competition, affects the public interest in a context of health crisis.
Competition also investigates whether the prices applied by various funeral companies during the health crisis could be due to anti-competitive agreements between different companies or unfair aggressive behavior, capable of "significantly diminishing the freedom of choice of the recipients (relatives of the deceased)", as the body has stated in a statement.
The supervisor also examines the price increases in products such as hydroalcoholic gels, as well as the raw materials used in their manufacture, for example ethanol. Competition tries to "analyze the evolution of these markets in Spain to identify and, where appropriate, punish the existence of anti-competitive behavior derived from such price increases".
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