Service
Price Fixing
The definition of the criminal offence committed by individuals agreeing to enter a cartel was set out in Section 188 of the Enterprise Act 2002 and was described as having two limbs.
The definition of the criminal offence committed by individuals agreeing to enter a cartel was set out in Section 188 of the Enterprise Act 2002 and was described as having two limbs.
Having been originally introduced in 2002 the act has since been amended with effect from April 2014 to remove the requirement to prove dishonesty. The consequence of this amendment is that there may well be subsequently more criminal investigations and prosecutions of this offence.
The way in which the cartel offence works means that it will only apply to individual’s, for example, employees or directors of companies. Any such individual who may have committed the Cartel Offence are vulnerable to a criminal investigation by the Competition and Markets Authority or the Serious Fraud Office. Consequently, there is a risk of personal criminal liability meaning any employee or director accused of cartel like behaviour should see it vital to take specialist criminal law advice at the earliest opportunity.
Linking to the topic of the Cartel Offence is the topic of Price Fixing. Price Fixing disrupts the normal supply and laws of demand allowing a monopoly effect to take place and give an edge over rival competitors. The results and elements of Price fixing have no benefit to the consumer and tactics used usually result in the consumer paying more, this being one of the key reasons as to why the practice is illegal.
If you have been contacted to attend an interview under caution or are under investigation by the Serious Fraud Office or the CMA, please do not hesitate to contact this firm for advice and assistance.
Contact London +44 7700 158304 or Manchester +44 7700 164107. Alternatively you can email info@jeremygordon.co.uk
What is an Account Freezing Order ? An Account Freezing Order (AFO) is a court order that prohibits a person from making withdrawals or payments from ...
The Economic Crime and Corporate Transparency Act 2023 is intended to address a number of concerns about economic crime, including the use of companie...
Stamp Duty Land Tax (SDLT) is a tax that must be paid when you buy property in the UK. It is calculated as a percentage of the purchase price, and the...
Section 2 of the Criminal Justice Act 1987 is a crucial piece of legislation in the United Kingdom’s fight against financial crime. The act was ...
Regulatory investigations can be a daunting experience for businesses and individuals alike. The consequences of non-compliance can be severe, with fi...
The rise of cryptocurrencies has been accompanied by a proliferation of cryptocurrency frauds ‘crypto frauds’). In recent years, there have been n...
Advantages of working for an umbrella company It is important to stress that many umbrella companies operate in a totally legitimate manner and can br...
What are umbrella companies? Umbrella companies have become increasingly common in the UK in recent years with the number now standing at over 500. Th...
PAYE umbrella scheme fraud is a sophisticated and organised way of defrauding HMRC and individual workers out of money. In some instances, these schem...
A tax investigation is an investigation by HMRC into your tax affairs and tax history. They have a broad remit to investigate a wide range of potentia...
What the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill means for directors. As we emerge from lockdown many company d...
If you are notified that your business has been reported for tax evasion the whole process can be incredibly stressful and daunting. It can have range...
The Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Bank Loan S...
“The professionalism throughout was exemplary, I felt I was always able to make contact and receive feedback from the start to the end of the process. Ben was a much needed calming influence throughout.”
