Competition law infringement is a serious risk for every business. A breach of competition law can lead to fines of up to 10% of Calder’s worldwide turnover and individuals can be personally criminally liable. Calder takes a zero tolerance approach to breaches of competition law.
Calder’s approach to competition compliance
Calder Group is committed to compliance with UK and EU competition law. These rules prohibit, among other practices, agreements and understandings that prevent, restrict or distort competition. Calder takes active steps to ensure that its board of directors, management and staff are aware of their responsibilities under competition law, and that it acts at all times in compliance with the letter and spirit of the rules.
Calder has an antitrust and competition law compliance programme in place, as well as compliance policies and procedures, to ensure that its objective of 100% compliance can be achieved. The board of directors monitors Calder’s effective implementation of the compliance programme and adherence to it.
Responsibility for compliance
Individuals who agree with others to violate competition laws face severe external repercussions, including possible imprisonment, heavy fines and, in the case of the directors of our businesses, disqualification. Calder operates a zero tolerance policy towards employees or directors who disregard competition laws. Even if a business matter runs into difficulties through no fault of the employee or director, resorting to unlawful agreements with competitors is not acceptable. Compliance is the only permissible course of action in any situation.
It is the responsibility of all Calder employees to ensure that they report any infringement or suspected infringement of competition laws involving Calder to their line manager or the compliance manager.
More detailed guidance on competition law compliance can be found in Calder’s Competition Compliance Policy and on the website of the Competition and Markets Authority. As indicated, competition law compliance can be complex, and employees should not hesitate to seek guidance from more senior colleagues or the compliance manager if they are in any doubt.
I wish to make it very clear that compliance with the regulatory obligations of our companies is a top priority of Calder Group and of myself as our Chairman. Competition law compliance is an essential element in that policy.
CEO and Chairman, Calder Group