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NED Breakfast Update with Hogan Lovells & The CMA

Thursday 25 April 2019

NED Breakfast Update with Hogan Lovells & The CMA


Date: 3 April 2019

Venue: Hogan Lovells, Atlantic House, Holborn Viaduct, London EC1A 2FG

                  


NED Breakfast Update: in association with Hogan Lovells and the Competition & Markets Authority

Director Disqualifications & Competition Law... Do you understand your responsiblities as a Board Member?

NEDA, the CMA and Hogan Lovells invite you to a breakfast seminar on competition law and director disqualifications. 

Why attend the briefing? 
In February 2019 the Court of Appeal upheld a decision by the CMA to fine a company for infringing competition law by taking part in an exchange of competitively - sensitive information on prices and pricing intentions with 3 other competitors.  Although the company had rejected an approach to join a cartel, the senior director in the meeting nevertheless mishandled the situation with serious consequences.  This judgment sends a clear and unequivocal message to all businesses across the UK.  If companies exchange competitively-sensitive, confidential information – even at just one meeting – that is itself a breach of competition law and the CMA will pursue businesses that break the law.
 
In addition to fines, the CMA has the power, under the Company Directors Disqualification Act, to seek the disqualification of an individual from holding company directorships where that individual has been director of a company which has breached competition law.
 
What will you learn?
Company directors have a special responsibility to be well-informed about their company practices and ensure they comply with the law. This includes of course, competition law. Amelia Fletcher, a Non-Executive Director of the CMA Board, will provide an update on the work the CMA is doing to promote businesses’ compliance with competition law. As a NED herself she is also well placed to provide a NED's perspective of the position.

Hogan Lovells and NEDA will add their own perspective on competition law compliance and risk, based on practical case studies and current experience working with a range of boards, and in particular with NEDs.

New publications and support available 
In October last year, the CMA published research that revealed many firms still don’t know enough about how to comply with competition law:

  • only 57% of businesses surveyed knew it was illegal to fix prices
  • nearly half either didn’t know or thought it was legal to discuss prices with competing bidders when quoting for new work (23% said ‘don’t know’, and 25% actually thought it was legal)
  • significantly more than half (59%) didn’t know or thought that dividing up and sharing customers with rivals was legal (24% said ‘don’t know’ and 35% actually thought it was legal)

The CMA’s Stop Cartels campaign aims to educate businesses about which practices are illegal and explains how best to report cartel behaviour such as fixing prices or rigging contracts. 

Speakers:

  • Professor Amelia Fletcher OBE, Non-Executive Director, The CMA
  • Angus Coulter, Partner, Hogan Lovells
  • Christopher Hutton, Partner, Hogan Lovells
  • Louis Cooper, CEO, NEDA
  • Maegen Morrison, Partner, Hogan Lovells

Date:

Wednesday 3rd April 2019

Timetable:

08:30 - 09:00: Registration and breakfast

09:00 - 10:30: Working Session

10:30: Coffee and networking

Venue:

Hogan Lovells

Atlantic House

Holborn Viaduct

London

EC1A 2FG

Map:

http://www.hoganlovells.com/en/locations/london

To register to attend this event please e-mail: events@nedaglobal.com





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NEDA, the CMA and Hogan Lovells invite you to a breakfast seminar on competition law and director disqualifications.