One set of guidance is for companies and the firms that advise them and includes sections tailored to the needs of small and medium sized enterprises (SMEs). The other guide is designed for directors of companies.
The guidance sets out practical steps that companies can take to make sure they are not in breach of competition law. It explains what the OFT calls its "risk-based, four step process for creating a culture of compliance within a business".
The other guide explains the level of understanding that executive and non-executive directors of companies are expected to have of competition law. The guidance follows a change in OFT policy announced earlier this year.
It said it would disqualify directors if their companies break competition law, and that it is a director's responsibility to ensure that he or she knows the law.
"The OFT will be just as concerned with directors who ought to have known of competition law breaches at a company as those who were personally involved in an infringement," said an OFT statement in July. "Cases will be chosen based on the evidence available and seriousness of the conduct."
"Sanctions for involvement in competition law infringements can be severe for both businesses and individuals, especially directors," said OFT senior director of policy Cavendish Elithorn. "The OFT is well aware that most businesses and directors wish to comply with competition law. We are keen to help them do so. These guidance documents are intended to set out steps that businesses and company directors can take in order to avoid competition law infringements."
