The OFT has released new competition law compliance materials, which include guidance for businesses and directors on how to comply with competition law.
The materials follow a 2010 OFT report – Drivers of Compliance and Non-Compliance with Competition Law – that supported a risk-based approach to competition law compliance, tailored to each business.
Among the publications is an updated How Your Business Can Achieve Compliance in Competition Law, which sets out the OFT's suggested "four-step approach" to achieving a compliance culture. This suggests how businesses can identify, assess and mitigate competition law risks, and highlights the need for ongoing review of this process. The OFT also emphasises that importance of a “core” commitment to compliance that runs from senior management downwards.
The OFT has also published a guide for directors - Company Directors and Competition Law - which focuses on the key risks that directors should be aware of, and the ways in which they can seek to minimise the risks of their business infringing competition law. Other materials published by the OFT include a new quick guide to competition law and a compliance film which includes footage of a dramatised dawn raid.