OTTAWA, June 3, 2015 /CNW/ - The best way for businesses to ensure they play by the rules and steer clear of anti-competitive behaviour is to put in place a credible and effective corporate compliance program.
This is the message of the Competition Bureau's newly updated Corporate Compliance Programs bulletin published today.
This bulletin seeks to help businesses of all sizes in the development of a credible and effective compliance program, but the updated bulletin pays special attention to small and medium-sized businesses. It is designed to help businesses get the solid information they need to reduce their risk of contravening the law.
A compliance program benefits businesses in two ways:
- It helps them to identify areas of high risk of contravention of the Competition Act and other laws.
- It allows them to determine circumstances where they may be the victim of anti-competitive conduct by other parties.
- The newly updated bulletin reflects new developments in how the Bureau recognizes and considers credible and effective corporate compliance programs in the enforcement of the Competition Act, the Consumer Packaging and Labelling Act, the Textile Labelling Act and the Precious Metals Marking Act.
- The bulletin has also been expanded to provide more guidance and incentives for Canadian businesses to develop and maintain credible and effective compliance programs.
- The issuance of the bulletin supports the Bureau's Action Plan on Transparency, which aims to promote a more cost-effective, efficient and responsive agency, while providing Canadians with more opportunities to learn about the Bureau's work.
"The updated Corporate Compliance Programs bulletin provides Canadian businesses with the guidance needed to play by the rules and avoid the pitfalls of anti-competitive behaviour. Fair competition makes for a strong economy. Canadian businesses and consumers reap the benefits of a competitive and innovative marketplace."
Commissioner of Competition
SOURCE Competition Bureau
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