Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Hong Kong Competition Commission releases compliance toolkit for SMEs, (Nov 3, 2015)

By Michael Menzhuber, J.D., LL.M.

The Hong Kong Competition Commission has published, in Chinese and English, a practical toolkit, “How to comply with the Competition Ordinance.” The purpose of the toolkit is to assist businesses, especially small and medium enterprises (SMEs) in reviewing their business practices and developing a compliance strategy that best suits their needs before the full implementation of the Competition Ordinance scheduled for December 14, 2015.

The toolkit features: (1) useful checklists for identifying and classifying potential risks in the course of dealing with competitors, suppliers, and customers; (2) practical measures to consider in formulating a tailor-made compliance strategy for businesses of different natures and sizes; and (3) a simple quiz for businesses to test their knowledge of competition law, which is fundamental to setting up an effective compliance strategy.

According to Dr. Stanley Wong, Chief Executive Officer of the of Commission, “There is no one-size-fits-all solution to formulating a compliance strategy. Businesses are advised to develop and implement a strategy suitable for their size and risk profile. Enterprises are also encouraged to keep a record of what has been done to mitigate potential competition law risks for their businesses.”

The Commission has, since mid-2014, conducted over 180 briefings and meetings with SME representatives, major chambers, industry associations, and professional bodies. Seven seminars for SMES and the public were also organized. A brochure was published to assist SMEs in understanding their rights and obligations under the Ordinance. The Commission will also participate in events targeting business, especially SMEs, organized by other public organizations, including the World SME Expo on December 3- 5, 2015.

Businesses are encouraged to approach their trade/industry associations, which the Commission has been working closely with, for advice and assistance. Free seminars will continue to be conducted by the Commission. Operational documents will also continue to be released and will include a leniency policy and a statement of the Commission’s enforcement priorities.

The toolkit is available on the Commission’s website. Print and electronic copies of the toolkit will also be distributed through the network of related government information, public organizations, major chambers, and trade associations.

News: Antitrust