Temple and co, advisers in compliance

Temple & Co Solicitors,
Suite 4,
Natwest Bank Chambers,
46 High Street,
Daventry, Northants,
NN11 4HU

T: 0870 770 8275
  
Temple and co, compliance specialists
About Temple and co, specialists in compliance
Compliance reviews for statutory requirements
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Compliance Reviews

Measures taken by companies to ensure that compliance with statutory requirements such as environmental and competition law will:
  • Reduce the risk of infringing Competition Law
  • Can result in a lower level of fine being imposed by the European Commission or the OFT where an infringement is found
  • Are cheap and simple to set up. This is often done in conjunction with our Business Legal Health Check, but can be done separately.

Who needs compliance programmes? - All companies which may be at risk of infringing EC competition law can benefit from having a Competition Law Compliance Review. the larger a company is the more difficult if can become in the education of its members of staff concerning their obligations under EU or UK competition law.

  
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  • Where a company consists of two individuals, for example Director Shareholders, knowledge of Competition Law is necessary also but a formal review would be probably inappropriate.
  • Small companies need simply to ensure that thos responsible for the business are aware of their obligations under the law.
  • Where a company has many employees more formal steps must be taken to educate employees. Companies should consider the relative cost of setting up a Compliance Review against the risk of fines which could be imposed in breach of the EU or UK Competition Rules. A company will never find it cheaper to incur and meet fines - which usually attract unpleasant publicity - than implement precautionary measures in advance.

Instituting a Compliance Review is one sensible and useful step which companies can take to reduce risk. (back to top)

Contents of a Compliance Review - Much depends on the company concerned however, and reviews should be tailored to suit individual circumstances. The Compliance Review will involve an assessment of existing agreements, practices and arrangements in order to assess whether they comply with EC or UK Competition law or not and whether action needs to be taken. (back to top)
 
 

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