Coronavirus update from GoodCorporation

Coronavirus update from GoodCorporation

Competition and antitrust

Any infringement of EU or UK competition law can have serious consequences with fines as high as ten per cent of global turnover.

GoodCorporation’s Antitrust Framework can be used to help companies minimise competition risks by ensuring that the correct systems and processes are working on the ground.

Our clients use the framework for internal self-assessment or for independent external assurance. It can be used to assess systems already in place or as a checklist for identifying what needs to be done and how best to put this into practice.

In the UK, the Competition and Markets Authority is encouraging businesses to put measures in place to comply with legislation while at the same time taking a more aggressive stance in prosecuting breaches of antitrust laws. As a result, the number of industries under review for suspected anti-competitive behaviour has increased.

While the legal framework may be clear, companies need to ensure that they have the right ethical culture and relevant practices firmly embedded.

GoodCorporation's Antitrust Framework covers the following areas:

Competition needs to be promoted not as an end in itself, but rather as a tool to serve the interests of the millions of consumers that are its intended beneficiaries.

Lord Andrew Tyrie

Chair of the Competition and Markets Authority

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