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

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