|
|
Article: Cartel tales: the Office of Fair Trading has intensified its campaign against price-fixing and is pressing for heavy penalties. Neil Hodge proposes ways to minimise the risk of prosecution--including blowing the whistle on suspected offenders.
- Article from:
- Financial Management (UK)
- Article date:
- April 1, 2008
- Author:
-
|
Copyright informationCOPYRIGHT 2008 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
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 ...
Related newspaper, magazine, and journal articles:
|
|
Article: Prestonpans groups share [pounds sterling]4000.
Lothian News (Dalkeith, Scotland);
August 27, 2007 ;
281 words
...Grants totalling almost [pounds sterling]4,000 have been shared among...recipient, with an award of [pounds sterling]800 from this year's local priorities budget. An allocation of [pounds sterling]600 was made to Preston Lodge...
|
|