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CMA publishes competition law risk guideBack

riskThe Competition and Markets Authority (CMA) has published a short guide to help businesses comply with competition law.

It provides a basic overview of competition law, outlining the steps businesses and risk professionals can take to help identify and reduce competition law risks. It also outlines what to do if competition law has been breached and provides case studies with key learnings.

The guide was developed as a joint project with the Institute of Risk Management (IRM) and follows the first case of a director being disqualified after their company broke competition law.

In December 2016, a managing director of an online poster supplier gave an undertaking not to act as a director of any UK company for 5 years after their company was found to have been part of an online price-fixing cartel.

Alongside the updated risk guide the CMA has also published a one-page 60-second summary looking specifically at director disqualification with advice for company directors.

David Currie, CMA Chairman, said:

“I am delighted that we are working with the IRM again to put the spotlight on the significant risks companies and their directors face if they don’t play by fair rules in business. Company directors have a special responsibility to be well-informed about their company practices and have a critical role to play in ensuring a business complies with the law.

In light of this I want to see anti-competitive behaviour taken as seriously by UK businesses and boards as the risks around bribery, fraud, health and safety and cyber-crime.”

Please click Competition law risk: a short guide to access the full document

Posted by Sue Robinson on 27/01/2017