Billboard "LONDON — Guitar maker Fender has been fined £4.5 million ($5.9 million) for breaking British competition law. The fine is the largest ever imposed by the U.K.'s Competition and Markets Authority (CMA) for price fixing, or what it terms as "resale price maintenance." In Fender's case, the company admitted breaking British competition law by restricting retailers from offering online discounts and requiring stores to sell its guitars at or above a minimum price between 2013 and 2018. Such restrictions are illegal in the U.K. as they prevent customers from getting the best price for a product, in this case a Fender guitar, as all retailers sell them at the same price. During the course of its investigation, the CMA found that Fender Europe employees deliberately tried to cover up their actions by recording as little as possible in writing."