On February 19, 2009, the Portuguese Competition Authority (AdC) opened an infringement proceeding against OTOC to investigate the approval and implementation of the Credit Formation Regulation, through which OTOC (i) artificially segmented the market for training of Chartered Accountants; (ii) to train in exclusivity on teaching of one third of the formation was arrogated; and iii) stipulated unclear and transparent criteria, based on their discretion, on the comparison with other entities and on the approval of their training actions.
(b) Evidence of infringement of Article 6 of Law No 18/2003 of 11 June and Article 102 TFEU by the fact that the investigated entity competes as a training entity in a market which it has itself segmented, in an artificial way, and in which the OTOC decides which entities can compete with it and on what terms, according to non-transparent criteria, charging them fees either for access to this market or for the exercise of its activity.
It was concluded that the two infringements of which the OTOC was accused had been committed and, on May 7, 2010, a judgment was sentenced, imposing a fine on the OTOC at € 229,308.20.