Leveraging Your Company’s Existing Data to Reduce Antitrust Compliance Risk
In 2019, the Department of Justice announced that compliance would be taken into consideration during sentencing for criminal antitrust investigations, putting increased emphasis for corporations to consider implementing antitrust compliance controls to detect and prevent collusive behavior.
Companies that are considering ways to minimize risks stemming from price-fixing, market allocation or bid-rigging exposure should know that they likely already have the data analytics tools that can be seamlessly integrated into an antitrust compliance and monitoring program.
When incorporating data into a compliance and monitoring program, it is a relatively straightforward matter to establish requirements and thresholds, fine-tune the model, determine the response plan and integrate with other audit components to ensure that controls are being regularly reviewed. Creating a well-designed program and applying it in good faith will benefit companies in the eyes of the DOJ in the event of an investigation.
With the right planning and approach to incorporating existing data into the model, a company’s current information and communications systems can be leveraged to seamlessly incorporate data analytics into any compliance program.
Posted with permission from the American Bar Association.