Snapshot: implementing a competition compliance programme in Greece

Compliance programmes

How does a company demonstrate its commitment to competition compliance?

The company’s commitment to competition compliance can be demonstrated, among others, through:

• setting out clear compliance policies, appropriately documented and made available to all company staff, and asking staff for written acknowledgement of receipt thereof;
• designating a member of senior management to take overall responsibility for competition compliance;
• putting in place incentives for compliance with and penalties for breach of compliance policies;
• putting in place reporting mechanisms, including whistleblowing;
• putting in place monitoring and auditing mechanisms; and
• taking immediate action if a situation that conflicts with competition rules is detected.

What are the key features of a compliance programme regarding risk identification?

A compliance programme should identify the potential risks to which the undertaking may be exposed taking into account:

• market characteristics (oligopolistic structure, level of transparency etc);
• previous infringements in the same market;
• the company’s position in the market;
• situations in which the company contacts or interacts with competitors (association meetings, joint ventures, private events etc);
• departments/employees that are more exposed to competition law risks; and
• HCC enforcement priorities.

What are the key features of a compliance programme regarding risk assessment?

Following identification of potential risks in cooperation with company’s executives or employees, the assessment thereof should be undertaken by a designated anti-trust compliance officer or by external specialists. Employees should be provided with clear instructions and training on how to communicate and deal with potential risks.   

What are the key features of a compliance programme regarding risk mitigation?

An effective compliance programme should:

• raise awareness and establih competition compliance culture;
• put in place incentives for compliance with and penalties for breach of compliance policies;
• conduct training, particularly for high-risk staff;
• conduct mock dawn raids; 
• put in place reporting, monitoring and auditing mechanisms; and
• take immediate action in case any situation of conflict with competition rules is detected.

What are the key features of a compliance programme regarding monitoring and review of business practices?

Compliance programmes should be regularly reviewed and updated in order to reflect developments in applicable legislation and case law, practice and priorities of enforcement authorities, market structure, company business and key staff, complaints by customers and market particpants, incidents within the company or official investigations in the industry.   

Training programmes and audits should be conducted on a regular basis as well as whenever required by the circumstances, preferably by external specialists to ensure that all relevant work products are covered by attorney-client privilege.