Does the Office of Fair Trading have your business in its sights?
Outdoor advertising, online hotel booking, air transport, commercial vehicle manufacture and bunker fuel cards are among the industries that the Office of Fair Trading has said it expects to target for Competition Law enforcement investigation this year.
The announcement came as the OFT published its Annual Plan for 2011/2012.
The OFT presently has 23 ongoing civil or criminal competition enforcement cases, of which 11 were opened in the last year. It is understood that many of these ongoing investigations are in the sectors singled out by the OFT.
The OFT also said it will work to maximise the impact of individual and corporate sanctions. Businesses that break the law can be fined up to 10% of their worldwide turnover and injured competitors, customers and consumer groups can bring damages claims in Court against them. In addition, individuals found to be involved in cartels can be fined and imprisoned for up to 5 years and Directors of companies that breach the prohibitions can be disqualified for up to 15 years.
Douglas McLachlan, a solicitor specialising in Competition law at Biggart Baillie LLP said:
“While the OFT remains tight lipped about the identity of its next targets, it’s well known that the discovery of one cartel tends to lead to another. Anybody who thinks they may have something to confess should speak to a competition lawyer today, especially if they’re in one of the sectors under the spotlight. The OFT can give 100% leniency from fines to the first firm to report a new cartel, so there’s a big advantage in being the whistleblower.”
For more information please contact Colin Miller or Douglas McLachlan.
The information contained in this article is given for general information only, reflects the current law on the date of the article, and does not constitute legal advice on any specific matter