The discussion and educational role of the Competition Authority

The release of educational videos is in line with the legislature's desire to strengthen the Competition Authority's role as an advocate for competition law and vigorous competition. These priorities are also in line with the objectives set out in the financial plan for the supervisory authority's remit. In connection with the 2020 amendments to the Competition Act, the following was stated in the Bill, among other things:

“For the benefits of effective competition to be fully realised by society, it is important to proactively prevent competition law breaches through increased education on competition matters, alongside ex-post monitoring of companies' conduct in the market.“

It was then emphasised that one of the roles of the Competition Authority is to promote discussion and education on competition issues and the benefits of effective competition for business and consumers. In this context, the following was stated:

„It is considered appropriate that this important role of the institution is given greater prominence, as the Competition Authority has emphasised in recent years, as it is conducive to fostering professional debate on competition issues in this country.“

The preparation of the Competition Authority's education takes into account, among other things, the results of surveys conducted by the Competition Authority in 2019 and 2020. The results of these were presented in the reports. Knowledge and attitudes of managers in Icelandic companies towards competition issues and Public attitudes to competition policy.

The results showed, among other things, that 30% of managers in Icelandic companies considered their knowledge of the prohibition rules of competition law to be poor or non-existent. The surveys also showed that although the public in this country is aware of the importance of competition law for their interests, there is every reason to enhance public knowledge of competition rules, particularly among younger groups.

The Competition Authority hopes that people of all ages can benefit from and enjoy the videos. As well as being available here on the website, they will also be on Facebook and the Competition Authority's YouTube channels.