Anti-trust Compliance Measures

In addition to the M&A notification and approval requirements, companies and their personnel must be careful to adhere to notions of fairness in the marketplace. 

The following are some examples.

• Prohibition on Price Fixing:

  • Employees should never discuss or agree with competitors to fix prices, allocate markets, or rig bids.

  • Citation: Section 1 of the Sherman Antitrust Act (15 U.S. Code § 1).

• Avoiding Market Allocation Agreements:

  • Employees should refrain from agreements with competitors to divide territories or customers.

  • Citation: Section 1 of the Sherman Antitrust Act (15 U.S. Code § 1).

• Prohibition on Bid Rigging:

  • Employees must not engage in collusive behavior with competitors to manipulate the outcome of bidding processes.

  • Citation: Section 1 of the Sherman Antitrust Act (15 U.S. Code § 1).

• Preventing Monopolization:

  • Employees should not engage in conduct aimed at monopolizing or attempting to monopolize a particular market.

  • Citation: Section 2 of the Sherman Antitrust Act (15 U.S. Code § 2).

• Ensuring Fair Competition:

  • Employees should compete fairly in the marketplace based on the merits of their products or services, without engaging in deceptive or anticompetitive practices.

  • Citation: Various provisions of the Federal Trade Commission Act (15 U.S. Code § 41 et seq.).

• Compliance with Merger Guidelines:

  • Employees involved in mergers or acquisitions should ensure compliance with the Hart-Scott-Rodino Antitrust Improvements Act and relevant merger guidelines issued by antitrust authorities.

  • Citation: Hart-Scott-Rodino Antitrust Improvements Act of 1976 (15 U.S. Code § 18a).

• Avoiding Tying Arrangements:

  • Employees must refrain from tying the sale of one product or service to the purchase of another product or service, particularly if it has the effect of foreclosing competition.

  • Citation: Section 3 of the Clayton Antitrust Act (15 U.S. Code § 14).

• Compliance with International Antitrust Laws:

  • Employees engaged in international business activities should adhere to applicable antitrust laws of foreign jurisdictions, including the European Union's competition laws and other international agreements.

  • Citation: Various international antitrust laws and agreements.

• Reporting Antitrust Concerns:

  • Employees should promptly report any potential violations or concerns regarding antitrust compliance through established reporting mechanisms within the company.

  • Citation: Internal company policies and procedures.

These conduct guidelines are rooted in various antitrust laws and regulations, both in the United States and internationally, and serve as essential principles for employees to follow in order to ensure compliance and avoid antitrust issues.

See also Securities Regulation, History of Securities Regulation, Equity in the Legal System, History of Banking Regulation, and Anti-trust Compliance Measures.