White & Case Launches Online Compliance Tool to Navigate “Shark Infested Waters”
Global law firm White & Case LLP has launched two new mobile- and tablet-friendly compliance tools in response to the increasingly complex regulatory environment surrounding competition law.
With competition authorities being able to impose corporate fines of up to ten percent of global annual turnover, personal fines and even prison sentences, antitrust compliance is an important issue that organisations must address.
White & Case has developed the tailorable tools – a free Dawn Raid App and new competition compliance e-learning course – to make it easier for businesses to understand the issues and what is required to comply with this complicated and rapidly changing area of law.
The 'app', which is available in multiple languages, helps all employees understand what action is necessary in the event of a competition dawn raid. The e-learning course provides an easy, efficient training solution in relation to complex competition regulation. Further courses focusing on other regulatory areas, including sanctions, are also in development.
"Today's regulatory environment resembles shark infested waters where the European Commission and national competition authorities have made it clear that no industry, market or company is immune from scrutiny," said Brussels-based White & Case partner Jacquelyn MacLennan. "The total value of fines imposed by the EC for antitrust breaches has risen exponentially during the past decade, when record fines of €1 billion have been imposed on a single company, and €1.5 billion on a group of companies in a single cartel. Even higher fines are threatened."
Brussels-based White & Case partner Axel Schulz said: "Despite the severe consequences of antitrust infringement, we often see companies focusing on other urgent matters, with education on compliance with antitrust rules forgotten until it's too late. But when a company is the subject of an authority's attention, and especially when officials are on its doorstep, everything goes into fast forward and speed is of the essence. To help prepare for these situations, White & Case has created the mobile-friendly Dawn Raid App and e-learning tool to support and prepare companies in this complex area of law."
About the tools/services
The e-learning and dawn raid app services offered by White & Case LLP do not constitute legal advice. Please click here for further information on both the 'app' and e-learning course.
For more information please speak to your local media contact.