All businesses, whatever their size, must understand how they’re affected by competition law.
You must follow the rules on all types of anti-competitive activity including:
- price fixing, bid rigging and other ways of agreeing not to compete (sometimes called ‘cartels’)
- abuse of a dominant market position
You should manage the risk of breaking the law, eg by having clear policies, guidelines and training for your staff.
You can report anti-competitive activity if you think another business is breaking the law, or if you might have been involved yourself.
If you’re involved in anti-competitive activity
Your business can be fined up to 10% of its worldwide turnover and sued for damages.
You can be fined or sent to prison for up to 5 years if you’re found guilty of being involved in cartel activity.
Company directors can be disqualified from being a director for up to 15 years.