Steve Preece on Compliance and the UK Competition and Markets Authority [Podcast]

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By Adam Turteltaub
adam.turteltaub@corporatecompliance.org

Recently, Terry Stechysin of the Canadian Competition Bureau shared his perspectives via a podcast on the Canadian Government’s view of the role of compliance in anti-competition.  In this podcast, another Canadian, Steven Preece, an Assistant Director with the UK Competition and Markets Authority (CMA), weighs in on the UK government’s perspective.

Listen in to this podcast as Steve provides us with an overview of the CMA, which is the top anti-competition authority in the UK.  He explains:

  • The similarities and differences from an enforcement perspective with the US Department of Justice and Securities and Exchange Commission
  • The value CMA gives to compliance programs, including a potential reduction in penalties
  • The key elements that CMA looks for in compliance programs:
    • Evidence from top down to a commitment to anti-competition law compliance
    • Risk identification and assessment
    • Risk mitigation, and
    • Review activities
  • The helpfulness of integrating anti-corruption and anti-competition training
  • The importance of making training meaningful to the business and providing practical guidance.

In this podcast he provides references to several online resources from the CMA.  To access them, just follow the links below.

CMA Homepage

Quick Guide to Competition Law Compliance

CMA Penalties Guide, which includes a discussion of when compliance discounts of a penalty may apply.

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