Competition law compliance

Achieving compliance with competition law requires:

•
appropriate policies and procedures
•
a culture which supports ethical and legal behaviour, and
•
the organisation to address the risks beyond the immediate business, into its extended network (customers, suppliers, partners, etc)

Having a clear understanding of the nature of competition law compliance and the associated risks and challenges for businesses is the necessary first step to getting effective compliance arrangements in place.

Nature and importance

Competition law is designed to protect businesses and consumers from anti-competitive behaviour, and safeguard effective competition. All businesses must comply with competition law and there can be serious consequences for businesses and individuals, including directors, for non-compliance, including heavy fines, prison sentences, director disqualifications and reputational damage.

Dominant businesses

Dominant businesses, ie businesses with a high degree of market power

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Risk & Compliance News

Guidance on the information sharing measures in the Economic Crime and Corporate Transparency Act 2023 has been updated

An update to the guidance on information sharing measures outlined in the Economic Crime and Corporate Transparency Act 2023 has been updated on the government’s website. The measures, which are voluntary, allow regulated firms to share customer information for the purposes of preventing, investigating and detecting economic crime and have been put in place to provide greater clarity and comfort to regulated firms to share relevant customer information.

House of Lords conclude committee stage of Data (Use and Access) Bill

The House of Lords has completed the committee stage of the Data (Use and Access) Bill, the final day of scrutiny took place on 18 December 2024 and focused on amendments related to children and AI, national security and data privacy risks and AI compliance with UK copyright law. The bill, aimed at harnessing data for economic growth and improving digital governance, has undergone thorough examination over multiple sessions, addressing issues such as protection of children, misuse of AI rules, data mining and processing of personal data. The next stage, report stage, is scheduled for 21 January 2025.

Businesses should expect a role in tackling fraud next year

Law360, London: If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, specifically consumer fraud.

FCDO imposes sanctions on Georgian officials for human rights violations

The Foreign, Commonwealth and Development Office (FCDO) has announced sanctions against five senior Georgian officials in response to violent attacks on journalists and peaceful protestors. This action, coordinated with the United States, imposes UK travel bans and asset freezes on the individuals responsible for the crackdown following public opposition to the Georgian Dream party's decision to pause the country's European integration. The sanctions follow the UK's recent suspension of programme support to the Georgian government and restriction of defence cooperation. The FCDO's decision aligns with condemnations from UN experts and the OSCE regarding the pattern of repression and human rights violations in Georgia, particularly in light of the use of force against protestors after the October parliamentary elections.

View Risk & Compliance by content type :

News