[pullquote]HR professionals should ensure their organisation has a written, accessible whistleblowing policy that is communicated to all staff”[/pullquote]Cartels feature as part of competition law, which seeks to stop businesses engaging in unfair competition. Where two or more businesses get together to collude on price fixing, rigging bids, sharing out markets or sharing commercially sensitive information, there is a cartel. Yet, research carried out in 2018 for the Competition & Markets Authority (CMA), the body that officially enforces competition law, showed that business leaders do not know enough about the law. It showed that:
- Two fifths (41%) do not know that attending a meeting where rivals agree prices is illegal
- More than half (59%) don’t know that agreeing to split up and share customers with competitors is illegal
- Just under half (48%) don’t know that bid-rigging – where competing bidders secretly agree who will win a contract and submit fake bids – is illegal, and
- Only 6% of business leaders receive training on competition law.