Playing by the rules
Both the OFT and the European Commission see their roles as vital in protecting consumers and responsible businesses and in restoring confidence in the markets. They and other regulators are increasingly wielding their powers and adopting US style approaches to investigating suspected infringement of competition law.
Fines reaching tens, if not hundreds, of millions of pounds are now common and civil follow-on litigation is fast becoming the norm in the UK. European regulators are focussing on potential abuses in all industries and recent fines have ranged from £7m levied on a company and its subsidiary for breaking seals that regulators had affixed during an inspection, to £280m for two companies found guilty of involvement in a price-fixing cartel.
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Competition regulation (PDF)