Regulators are increasingly shifting the investigatory burden onto the companies they are investigating, creating significant incentives for companies to conduct very full internal investigations and to self-report wrongdoing, according to a report by law firm Freshfields Bruckhaus Deringer. The firm says that whilst financial services sector dominated headlines for truly global investigations, digital, telecoms, energy and consumer products also came under the regulatory spotlight with investigations into their market structures and business models.
Sharing information
The report pointed out that competition authorities globally are working together to share information and detect anti-competitive behaviour. However, sector regulators are more frequently' launching parallel investigations into the same or similar conduct, often under different laws, powers and sanctions and, in a number of cases, ‘cross-stimulated’ by the actions taken in another jurisdiction.' Furthermore, 'regulators are increasingly shifting the investigatory burden onto the business being scrutinised, particularly in financial services where regulators’ powers over regulated institutions – such as the ability to withdraw banking licences – create significant incentives to conduct very full internal investigations and to self-report,' the law firm said. Source: Freshfields
Email your news and story ideas to: [email protected]
