Compliance ensures that companies are aware of and follow all the relevant laws and regulations as well as their internal rules and ethical standards. Respecting the mentioned laws leads to a better business culture and consequently higher profitability. Within the frame of its compliance strategy, a company may establish a programme to ensure compliance with competition law. Well-designed programmes help companies maintain awareness of the relevant competition laws and prevent violations thereof. In such a manner, companies may avoid many potential adverse consequences, including substantial fines, damage claims, negative reputational impacts, sanctions imposed on individuals, etc. Competition law compliance programmes should be tailor-made to the company’s specific needs, e.g. the company’s size and the nature of the identified competition law risks.
An effective competition law compliance programme includes a clear and unambiguous commitment to competition law compliance by management, appropriate compliance organization, the identification and assessment of competition law risks, and appropriate measures to mitigate the identified risks. It is important that companies regularly review and evaluate all stages of the compliance process to ensure its continuous improvement. By establishing such a programme companies take an active role in the drive to achieve effective competition on the market. It is for this reason that some competition authorities, including the Slovenian Competition Protection Agency, have recognized the value of competition law compliance programmes, and - depending on the circumstances - may consider them a mitigating factor and grant a reduction in a financial penalty imposed for a competition law infringement.
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