OTTAWA, ONTARIO--(Marketwired - March 24, 2014) - Competition Bureau
John Pecman, Commissioner of Competition, today announced the Competition Bureau's first annual Anti-cartel Day, launched as part of the 2014 Fraud Prevention Month campaign. This new initiative is designed to help raise awareness of the negative consequences that cartels have on everyone, and how cartels can be prevented.
As part of this initiative, the Bureau wants to help businesses understand how developing a good corporate compliance program can enhance a company's competitiveness. A competitive marketplace is good for business, good for consumers and good for the economy.
The Bureau has prepared helpful materials to assist businesses and trade associations in recognizing and preventing cartel activity and other anti-competitive conduct, and to encourage companies to establish compliance programs within their organizations.
These materials are available on the Bureau's website and include:
- the Commissioner's message on Anti-cartel Day;
- a new video on corporate compliance; and
- newly published, easy-to-read pamphlets on Bid-rigging, Competitor Collaboration and Trade Associations.
The Bureau will share these materials with key stakeholders including the Canadian business community, as well as its Fraud Prevention Forum partners.
- Cartels are illegal agreements or arrangements to engage in one or more anti-competitive activities, such as price-fixing or bid-rigging, that deprive those seeking goods or services of the benefits of competition and the resulting competitive prices.
- The consequences of not complying with the law can be devastating and result in significant fines, imprisonment, lawsuits, negative publicity, and a prohibition from participating in government bidding processes.
- The Bureau's Immunity and Leniency Programs are among our best weapons to combat criminal cartels under the Competition Act. They have proven to be effective means of uncovering and breaking cartel activities, drawing many cases to the Bureau's attention.
- The Bureau's whistleblowing initiative encourages the general public and business community to report suspected incidences of cartel activity to the Bureau.
- The Bureau vigorously pursues those who participate in cartel activity, and this remains a top priority for the Bureau.
"I am pleased to announce our first annual Anti-cartel Day as part of Fraud Prevention Month. This is an opportunity for us to not only raise awareness about anti-competitive conduct but also to talk about compliance. Complying with the law will help companies establish a strong reputation as a fair competitor that can be trusted by its customers and suppliers."
John Pecman,Commissioner of Competition
"Join us today in the fight against cartels and help raise awareness about the negative impact that they have on consumers, businesses and the economy in Canada."
Matthew Boswell, Senior Deputy Commissioner
- Corporate Compliance Programs Bulletin
- Immunity Program
- Leniency Program
- Whistleblowing Initiative
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.