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Compliance - knock, knock.
(From Financial Director)
Byline: Peter Bartram.
Executives of bus companies Arriva and FirstGroup must have thought they were doing a clever deal out of the public's gaze when they met discreetly in a hotel room to fix up who would run a couple of bus routes in Leeds.
But they ended up booking their companies a place in business history as the first firms prosecuted under the 1998 Competition Act. Arriva picked up a GBP203,632 fine (reduced by 36% for co-operation) and FirstGroup escaped any direct financial penalty for putting its hand up to the Office of Fair Trading's regulators. On the way, the companies also picked up all the management ...
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