Formed in response to concerns regarding price rises across the economy as global supply chains continue to be disrupted, the working group is made up of competition regulators from the UK (CMA), US (DoJ), Australia (ACCC), Canada (CCB) and New Zealand (NZCC).
The statement indicates that the working group will collaborate and meet regularly to develop and share intelligence to detect and investigate suspected anti-competitive behaviour and collusion between competing logistic companies. The statement is indicative of competition regulators' proactive efforts to ensure that anti-competitive collusion is contained in the midst of the growing pressures on - and disruptions to - international supply chains.
Any investigations can prove costly to those investigated, both in terms of resources required to respond to the investigation and the reputational damage and financial penalties arising out of any adverse findings.
If you work in the supply chain sector, this is a good opportunity to:
(i) ensure your staff is appropriately trained on how to interact with competitors in different business contexts;
(ii) confirm your policies, procedures and code of conduct reflect an antitrust-compliant structure;
(iii) update your dawn raid policies; and
(iv) ensure you have appropriate monitoring tools and whistleblowing channels in place so that any suspected wrongdoing within your company can be reported on a timely manner.
If you would like to know more, please get in touch with our expert Partners Miguel Vaz or Andrew Hood.
Sign up to our email digest
Click to subscribe or manage your email preferences.