Abstract
This thesis explores the interaction between internal compliance arrangements and competition law. In many countries, state authorities are reluctant to pierce through an incorporated entity and delve into the substantive reach of competition law and questions of enforcement. This thesis constructs the competition law conception of the firm, which is relevant for assessing matters of enforcement and liability.Competition law punishment is an instance of the coercive power of the state. To question competition law penalties is a broader interrogation than simply characterising the burden as too harsh or, in some cases, too light. To justify punishment, a state must not only justify why it should punish those who infringe the law but also justify the severity of that punishment. The main contribution of this thesis lies in delving into the policy of rewarding an undertaking with a fine reduction for demonstrating that adequate steps have been taken or will be taken to ensure compliance with the very law it had nonetheless breached.
This thesis draws on the normative values of deterrence and retribution to shape this discussion. This is an original approach and one that is missing from the current discourse of compliance programme literature. This thesis seeks to highlight the conflict of values and performs an in-depth analysis of the UK’s approach to compliance programme mitigation. This thesis will conclude that proper compliance programmes are not something that should rest on the availability of a mitigating factor leading to a reduction in punishment.
The thesis proposes a dual methodology of sanctions-based and compliance-based approaches to the enforcement of competition law. It recognises that internal compliance arrangements matter for the effectiveness of competition law and suggests the implementation of internal measures within or added to existing control mechanisms. The experiences and perspectives of the regulated business are a missing yet critical factor in evaluating the effectiveness of competition law enforcement, this thesis seeks to address that gap. The factors to incentivise undertakings to adopt compliance programmes identified in this thesis are as follows: detection and response, compliance and risk management in general, an investment in compliance, the reputational benefits of compliance, and a normative commitment to the law.
The thesis’s overall conclusion is that the UK should adopt a compliance-based approach to compliance programmes to incentivise companies to take compliance seriously in the absence of administrative fine reductions through mitigation.
| Date of Award | 1 Aug 2023 |
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| Original language | English |
| Awarding Institution |
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| Supervisor | Christopher Townley (Supervisor) & Karen Yeung (Supervisor) |