While price-fixing has been an offence in the UK for only five years, lawyers believe that the increasing willingness of the competition watchdog to investigate alleged abuses and bring criminal prosecutions means that UK companies must learn how to comply--and fast.
Over the past year the Office of Fair Trading (OFT) has handed down large fines for anti-competitive practices and--for the first time--prosecuted directors with cartel offences. In December 2007 it charged three businessmen with dishonestly participating in a cartel to allocate markets and customers, restrict supplies, fix prices and rig bids for the supply of marine hoses and ancillary equipment in the UK ...