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Media Briefing Note: Office of Fair Trading Further Guidance on Director Disqualification and Compliance in Competition Cases

14 October 2010

LONDON, 14 October 2010 - The Office of Fair Trading is expected soon to issue further consultation and guidance on the responsibilities of companies and directors in matters of competition law compliance.
 
This follows an OFT report on competition compliance issued in May 2010.  Also, on 29 June 2010, the OFT announced changes to its existing approach to using company director disqualification orders (CDOs), as a means to further incentivise competition law compliance. This policy focuses not only on directors who are involved in unlawful activity but also those who "ought to have been aware".
 
As antitrust authorities are increasingly seeking to root out anti-competitive activity, a target of recent enforcement has been on the individual responsibility of company executives.  Given the increased focus on the responsibilities of individual directors, it will be important for companies and their directors to have an understanding of what is expected.
 
The further OFT statements in this area will be of interest to:
  • current and future executive and non-executive directors seeking a deeper understanding of their duties and what the changes will mean for them;
  • in-house legal advisers advising a business and directors on competition law compliance and corporate governance;
  • HR and other professionals advising a business on the interaction between competition law, directors' duties, corporate governance and employment law.

Hogan Lovells’ Antitrust, Competition and Economic Regulation practice are available to provide legal background on the consultation and its consequences.  Please contact:

 

Suzanne Rab

Counsel in Hogan Lovells' Antitrust, Competition and Economic Regulation (London)

Tel: +44 207 296 2382

suzanne.rab@hoganlovells.com

 

Angus Coulter

Counsel in Hogan Lovells' Antitrust, Competition and Economic Regulation (London)

Tel: +44 207 296 2965

 
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