Competition Regulator Targets Scottish Construction Businesses
Now, more than ever, it is becoming extremely important for Scottish construction businesses to be alert to higher risks of cartels being uncovered and punished. There has been a large increase in the number of tip-offs, which has resulted in the UK Competition and Markets Authority fining businesses over £150 million! Now, there is plans to even open a new operational workplace in the capital to crack down on this further.
The CMA have recently launched a Be Safe Not Sorry campaign in the hopes of encouraging more tip-offs. There are currently placing most of their efforts on targeting Scottish construction businesses and manufacturing sectors which have a history of reported cartel activity. All Scottish construction businesses company found to be involved coordinating their behaviour instead of competing will be subject to director disqualification, severe fines and, in some cases, even imprisonment.
This new campaign from the CMA is now encouraging Scottish construction businesses to speak up about any cartel activity that they have been, or currently are, involved with. New rules will now introduce a leniency policy in which the first side of the illegal arrangement can come forward and not be subjected to any of the above penalties mentioned. So, any construction company potentially involved in a breach should act fast to ensure they are protected. However, it is also important to get specialist legal advice to protect your interests.
It is now expected from the CMA that you should be aware of the rules and competition law. If this is something you think your company could be lacking in, then it is vital that you take the appropriate steps such as written polices and staff training.
VQ Construction is a fully accredited contractor and follows all competition regulator laws, so you will have complete peace of mind as your project is being carried out.