WILLEMSTAD – The Fair Trade Authority Curaçao (FTAC) has imposed personal fines of 25,000 guilders each on the chairman and secretary of the Curaçao Supermarket Association (SUVECU). The watchdog accuses them of refusing to provide requested information in an ongoing investigation into potential market distortions. 

According to FTAC, the authority first requested written data in July 2022 regarding SUVECU’s role and that of its members in price formation. Despite repeated follow-ups, no response was received. 

When the regulator then contacted the directors registered at the Chamber of Commerce, chairman J.d.S.d.G. and secretary E.R. reportedly stated they no longer wished to speak on behalf of SUVECU. They also declined an invitation for a personal meeting. 

FTAC considers this refusal a violation of the legal obligation to cooperate. Under the National Ordinance on Competition, the regulator therefore imposed administrative fines. The individuals have six weeks to appeal. 

This sanction is separate from earlier measures against several supermarkets themselves, which initially faced fines ranging from 270,000 to 450,000 guilders. Those penalties were later reduced on appeal to around 13,000 guilders per case. The two SUVECU leaders are now facing an additional and personal penalty.