| The Office of Fair
Trading (OFT) is consulting on two
guidance documents designed to help
businesses and company directors comply
with competition law. One document has
been developed for businesses and their
advisers and the other for executive and
non-executive directors.
The guidance for businesses and their
advisers sets out in detail the practical
compliance measures that businesses might
be able to take and includes a separate
quick guide intended to meet the specific
needs of small to medium-sized
enterprises.
The guidance for company directors is
intended to explain the level of
understanding of competition law that they
are expected to have and steps they should
be taking to detect and prevent breaches
of the law.
Cavendish Elithorn, the OFT's senior
director of policy, said: “Sanctions for
involvement in competition law
infringements can be severe for both
businesses and individuals, especially
directors.
“The OFT is well aware that most
businesses and directors wish to comply
with competition law. We are keen to help
them do so. These guidance documents are
intended to set out steps that businesses
and company directors can take in order to
avoid competition law infringements.”
As the two consultation documents are
complementary, interested parties should
read both when considering and submitting
their views.
Responses to the consultations are due
by 21 January 2011.
LINK:
Consultation on How Your Business Can
Achieve Compliance, guidance for
businesses and their advisers
LINK:
Consultation on Company Directors and
Competition Law |
