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Ensuring Antitrust Compliance As Independent Monitor

In 2023, a multinational materials company admitted to participating in a conspiracy to fix prices, rig bids and allocate markets. The company entered into a settlement and compliance agreement with a government agency and was required to engage an independent monitor. FTI Consulting was appointed as the external independent monitor to oversee compliance with federal antitrust regulations and ensure the company implemented a sustainable program to prevent future violations.

Our Impact

The company strengthened its antitrust program and improved compliance through enhanced training, policies, internal controls and communications, raising employee awareness and embedding best practices to mitigate the risk of future misconduct.
Drawing on comprehensive insights and in-depth testing of its antitrust compliance program, the company reinforced and adapted its program to maintain strong compliance through periods of significant business transformation.
The company successfully fulfilled all requirements of the agreement and, as a result, the monitorship concluded on schedule without the need for additional review or extension.

Our Role

FTI Consulting conducted detailed testing of the company’s internal controls, including the adequacy of data firewalls between business units, hotline reporting and investigation processes, antitrust policies and completion of antitrust training.
Our experts completed 24 monthly reviews of bid and pricing activity, ensuring policy adherence, tracking market dynamics and confirming no signs of collusion or misconduct, and implemented an outlier detection model, allowing our investigators to focus on antitrust review activity and confirm that the pricing identified was appropriate.
The team assisted the company in building out and testing its internal antitrust audit process, designing methodologies to test existing controls for efficacy, reviewing findings and providing recommendations for improving both the controls and future testing.
Our experts performed annual reviews of the sales teams’ emails to identify potential misconduct not already reported to the legal department or otherwise apparent in testing and shared our findings and recommendations with management.