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Directors Warned to Comply with Competition Law

The Competition and Markets Authority (CMA) has published an updated risk guide for senior managers, directors and their advisers on how to avoid breaking competition law.

The guide was developed in conjunction with the Institute of Risk Management (IRM) and follows the first case of a director being disqualified after his company broke competition law.

This case involved a managing director of an online poster supplier, who gave an undertaking in December 2016 not to act as a director of any UK company for five years, after his company was found to have been part of an online price-fixing cartel.

In addition to 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.

“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,” commented David Currie, CMA Chairman. “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 cybercrime,” he added.

Contains public sector information licensed under the Open Government Licence v3.0.

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