Rewarding Competition Compliance – Its Societal Value and How Policy Alignment Can Help

Liikejuridiikka - Finnish Business Law Journal 2020/1

26 Pages Posted: 21 Jul 2020

Date Written: April 2, 2020

Abstract

The current approach in competition law towards deterrence of anticompetitive conduct is through ex post sanctions, including related enforcement, and is insufficient. There is inherent societal value in better encouraging competition law compliance by firms. Added focus should be placed on creative complementary measures that do so, including rewarding desired conduct using positive incentives. Firms should be seen not only as potential infringers, but also as valuable partners in ensuring competitive markets. Compliance tools used in relation to competition policy focus less on preventive measures than some other areas of regulatory compliance, such as environmental protection, anti-bribery, and corporate sustainability, which provide useful points of learning. Improved self-enforcement by firms could moreover help improve the state of international antitrust by narrowing the enormous disparity between various national competition authorities’ resources and capacity.

Keywords: incentives, rewards, competition law, compliance, enforcement

JEL Classification: G38, K21, L40

Suggested Citation

Ristaniemi, Michael, Rewarding Competition Compliance – Its Societal Value and How Policy Alignment Can Help (April 2, 2020). Liikejuridiikka - Finnish Business Law Journal 2020/1, Available at SSRN: https://ssrn.com/abstract=3575548

Michael Ristaniemi (Contact Author)

University of Turku, Faculty of Law ( email )

Turku
Finland

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