Competition lawyers warn suppliers

Information sharing between competitors was the focus of the Federation of Manufacturing Opticians' annual general meeting on December 11.

Lawyers specialising in competition issues examined the relevance to optics of specific articles within the 1998 Competition Act.

'Talking about pricing should always ring alarms bells. If the information is confidential to your business then it should not be exchanged,' said Kassie Smith, a competition barrister for Monckton Chambers.

Peter Bond, a partner at Blake Lapthorn solicitors, stated: 'Information exchanges can lead to efficiencies, but they can also assist collusion.'

Bond warned that prosecutions relating to competition issues could result in fines of up to 10 per cent of turnover, a five-year custodial sentence and third-party damage claims.