• OFT Focuses on Directors in Its Latest Push for Competition Compliance
  • June 30, 2011 | Authors: Alasdair Balfour; Claire Deeble
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson (London) LLP - London Office
  • The UK’s competition enforcement body, the Office of Fair Trading, yesterday published guidance for company directors on the level of competition law knowledge expected from them and the steps they should be taking to prevent, detect and stop competition law breaches. The message from the OFT is that company directors (including non-executives) bear ultimate responsibility for competition law compliance. The required standard is high, and each director is assessed according to his role in the company and the knowledge of competition law he ought to have. If a director does not meet the required standard (for example, by not having adequate compliance procedures in place or by failing to act to prevent a breach of competition law), he risks being disqualified from acting as a director for up to 15 years.