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.