Plain English Breakdown
Checked against official source text during the last sync.
Increasing Penalties for Trade Conspiracy
This law increases fines and adds penalties for corporations and individuals who break trade rules.
What This Bill Does
- Increases the fine for corporate violators from up to $1,000,000 to up to $6,000,000.
- Raises the fine for individual violators from up to $250,000 to up to $1,000,000.
- Adds a new penalty of $1,000,000 for anyone who breaks these trade rules.
- Makes small changes to how penalties are described in the law.
Who It Names or Affects
- Corporations that break trade laws
- Individuals who break trade laws
Terms To Know
- Cartwright Act
- A law that stops unfair business practices and protects fair competition.
- Trust
- When two or more people work together to control trade or stop others from competing fairly.
Limits and Unknowns
- The bill does not specify when the new penalties will start.
- It is unclear how many companies and individuals this law will affect.