Promoting Corporate Compliance

Transcript

We're the Competition Bureau of Canada. And if you're watching this video, chances

are that you are part of a Canadian business. Well, we'd like to talk to you about a little

thing we call COMPLIANCE. Let's get started.

First of all... we believe that competition is a healthy thing, and a positive force in

our market economy. Healthy competition takes place at every level

in business in Canada... even the most humble ones!

It's a fact that many innovations have come about by the need to carve out a special niche

or compete against competitors. And that's often how great ideas and great

products are born. But... people don't always play fair.

Sometimes, companies take wrongful actions to draw customers away from competitors

who offer products or services in an honest manner.

Such conduct may go against the Competition Act.

It's not fair. It's not honest.

And the losers in this battle for loyalty and attention are the consumers, the competitors

and the Canadian economy. We're talking about price-fixing, bid-rigging,

false or misleading representations, abuse of dominance,

and a lot of other ways in which some businesses act fraudulently or non-competitively.

Fact is, every business in this country is required to act lawfully,

and the risks and penalties of NOT complying with the Competition Act and other legislation

governing business can be... devastating.

So... it just makes sense to build your own solid compliance program,

a program that will help you to identify and detect things you or your employees might

be doing wrong, and to put processes in place to establish

procedures, training, and monitoring that will help you keep your

ship on the right course. A compliance program is a way of operating

that involves everyone... meaning all employees from the mailroom to

the executive offices. As a business leader, you need to build in

the time, the resources, and the collective will to make your compliance

regime... business as usual. Building an effective and credible compliance

program can help you create what we call a "culture of compliance", and it will solidify

your reputation. Just makes sense, right?

I mean, who wants law suits, fines, bad publicity and... jail time?

So start with us: We have tools to help you build a rock-solid compliance program for

your company. Visit our website and check our Corporate

Compliance Programs bulletin at www.competitionbureau.gc.ca. Complying with the law is good for business,

good for consumers and good for the economy.

Video length: 3 minutes, 20 seconds

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