Antitrust and Trade Regulation/International Law: U.K. Office of Fair Trading Publishes Guidance on Competition Law

On June 27, the United Kingdom Office of Fair Trading (OFT) issued two new sets of guidance on compliance with United Kingdom competition law. The OFT, which worked with business groups to develop the new guidance, stated in a press release that the first guide, How Your Business Can Achieve Compliance, "is aimed at businesses and their advisors, and sets out the OFT's recommended risk-based, four-step approach to creating a culture of competition law compliance." The second guide, Company Directors and Competition Law, explains the level of competition law understanding that is expected from directors, and outlines steps that directors should take to prevent, detect, and stop infringements of competition law.