Compliance with competition/anti-trust laws (“competition law(s)”) in the various jurisdictions in which IFFO and its members operate is a matter of key importance for both IFFO and for the fishmeal/fish oil industry in general.
The reputation of IFFO and its members is one of the most important assets we have as an industry in our dealings with governments, customers and other third parties. As a result, it is vital we comply fully with key trading laws in the jurisdictions in which we do business, not least relevant competition laws. In addition to significant reputational harm, a breach of competition law may also result in the serious penalties being imposed by the authorities.
The application of competition law in specific situations can be complex, and the relevant rules can differ somewhat across different jurisdictions. If members have any doubt as to whether the activities their company is engaged in are in compliance with relevant competition laws, they are strongly advised to seek specific advice from their company’s usual legal advisors.