All change: what businesses need to know about the UK’s competition law shake-up
Businesses should be aware that there is more than institutional change afoot when the new Competition and Markets Authority (CMA) replaces the Office of Fair Trading (OFT) and Competition Commission (CC) from 1 April 2014.
Reform of the UK competition regime is also aimed at sharpening up enforcement. This is likely to mean more criminal prosecutions; more dawn raids; compulsory interviews for current and former employees; enforcement of competition law in new sectors; and cross-sector market investigations.
Companies need to consider how they will update compliance training, procedures and dawn raid manuals…
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