Antitrust compliance initiative proposed by this award summit is a creative mind rarely found in the traditional legal sector. The ideas to be innovative in antitrust compliance are proposed to better chart the evolution of the legal profession and will be presented in a way that is more useful, user-friendly and amusing for the audience of the antitrust compliance trainings.
A larger context of this initiative and the reason why I am interested in joining this event - in view of the ever-increasing deterrent effects of the penalties imposed on antitrust violations worldwide, the importance of an ex-ante mechanism of an antitrust compliance also rises accordingly to avoid any ‘ex post’ antitrust risks. Antitrust compliance has become a routine task for companies, law firms, enforcers and even academics to follow and work on in their daily life.
The Competition and Consumer Commission of Singapore is honoured to be part of the Antitrust Compliance Summit & Awards Steering Committee. We hope that the awards will spur competition authorities to further raise awareness of competition law through greater recognition of their work.
Compliance plays an integral role in antitrust/competition law and this initiative recognizes its growing centrality.
Compliance, as well as time to market, constitutes a major strategic challenge for economic players but also for authorities and institutions. What is the rule without the knowledge of this rule, the understanding of issues and risks at stake ? This is most apt when it comes to behavioral rules. Competition law is now part of companies’ codes of conduct which imply for staffs to act in a responsible and ethical manner. Being aware of competition law rules is therefore much more than a legal requirement. It is part of the corporate culture.
Today Competition Law Compliance Programmes are widespread. However, from the perspective of Heads of competition law / Compliance officers in charge, maintaining such programmes as top priorities is not a walk in the park. To the contrary, it is a real challenge to always keep them up especially when they are themselves in competition with many compliance requirements imposed by legislations, e.g. anti bribery, money laundering.
Concurrences identified this issue and started months ago to propose dedicated events. The Awards Compliance Initiative, that I’d like to commend, will be the high point of exchanges started in February 2019 at Concurrences’ initiative but also, and it has to be stressed, in the framework of a dedicated working group set-up by the French Competition Authority in 2020. More broadly, it will gather international actors, authorities and institutions and allow them to share their views and more practically, their best recipes and tools.
In the current globalized economy weakened by the health crisis, this Concurrences’s initiative is ideal for developing and promoting of compliance antitrust.
The international dimension and the format of the event give an exceptional character to the image of the participation of many professionals representative of the ecosystem (lawyers, experts, public authorities, enterprises, etc.). The opportunity to experience a 360 ° view of the antitrust issue not to be missed.
For me, Legaltech’s innovation and digital solutions are both major elements and catalysts for an effective implementation in terms of compliance antitrust by bringing traceability, consolidation, confidentiality and security to enterprises.