CMA updates competition law risk short guide
An updated risk guide for senior managers, directors and their advisers on how to avoid breaking competition law.
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.
David Currie, CMA Chairman, said:
I am delighted that we are working with the IRM again to put the spotlight on the significant risks companies and their directors face if they don’t play by fair rules in business. Company directors have a special responsibility to be well-informed about their company practices and have a critical role to play in ensuring a business complies with the law.
In light of this I want to see anti-competitive behaviour taken as seriously by UK businesses and boards as the risks around bribery, fraud, health and safety and cyber crime.