The Competition and Markets Authority (CMA) has updated its guidance on competition law. The update was written in conjunction with the Institute of Risk Management.
It provides a basic overview of competition law, explains why compliance is good for business and the sanctions for non-compliance. It also sets out how a business can adopt a risk-based approach to compliance and the steps to take if competition rules have been breached.
Separately, the CMA also published a short summary guide providing advice for company directors on avoiding disqualification for a company breach of competition law.
Law for the online generation starts here.
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.