Internal compliance programs are an integral part of organizational culture and policy. They play a major role in preventing, identifying and controlling for practices that may violate antitrust and competition laws. In addition, implementing an effective internal compliance program may mitigate the exposure of the company, as well as its office holders and employees, to enforcement measures taken by the Competition Authority, if an infringement of the law is detected.
The importance of compliance programs was recently reinforced in Israel, following an amendment to the Economic Competition Law, which now imposes a broad obligation on officeholders to supervise and even take active measures to ensure compliance by the corporation and its employees with the Law’s provisions. Among the Law’s new stipulations: an expanded definition of the term “monopoly”, a significant increase in the maximum level of administrative fines, and a broad enforcement tool kit for the Competition Authority, both criminal and administrative.
We prepare compliance programs based on an in-depth understanding of our clients’ business needs and areas of operation, while working closely with officers and employees to ascertain proper assimilation of the compliance program, conducting training and audits and ongoing update and support.
We work with local Israeli entities as well as with subsidiaries of global and international companies to make sure that global compliance programs are adopted and implemented in accordance with local requirements and provisions of the Economic Competition Law.
Our expertise includes:
- Preparing tailor-made internal compliance programs.
- Providing ongoing support and assistance in implementing compliance programs.
- Conducting audits.
- Holding training sessions and regular updates.