International investigations into anticompetitive conduct and market manipulation will be significant this year, predict Rich Snyder, Gian Luca Zampa and Alastair Chapman of Freshfields Bruckhaus Deringer in the firm’s “Global Antitrust in 2015” report. “Regulators’ continued focus on the detection and punishment of deceptive, manipulative and other anticompetitive conduct requires all companies and financial institutions to examine and test truly effective global compliance policies and systems to avoid allegations of misconduct,” they say.
Here are some areas the report suggests companies focus on to ensure that proper procedures and plans are in place:
- Global Compliance: Though delivery and training will be tailored to different laws and procedures around the world, the content of such compliance must protect the international business as a whole, note the authors. “Regulators’ broad assertion of jurisdiction to regulate extraterritorial conduct and global markets often requires companies to adhere to global standards and not just local norms,” they say.
- Whistleblowing Policies: Internal procedures for how corporations handle employee concerns must be reviewed, and companies should ensure they have a whistleblowing policy that has been communicated to all staff members.
- Stakeholder Strategies: Have a plan in place to deal with shareholders, suppliers, customers and the media should noncompliant behavior come to light. “Having agreed protocols in place, and a central point of decision-making to deliver a well-planned and consistent message, is vital to minimizing this impact while ensuring no misleading information is provided to the market,” they say.
