The Office of Fair Trading is considering using long-dormant powers to ban company executives involved in cartels, according to this story in today’s Financial Times.
The piece claims price fixing is expected to rise in certain industries in the downturn – and officials are acting to try to find a more effective ways to stamp it out.
It’s not the first we’ve heard of the OFT’s measures to curb the illegal practice. Last year, there was the offer of a reward of up to £100,000 for exposing a price-fixing cartel.
But it got us here at SM thinking, is the proposed use of these “long-dormant” powers actually long overdue? Should officials be doing more?