Tara Kelly

The business law firm said the findings of its recent poll of over 180 professionals highlight a significant lack of readiness despite increased enforcement efforts by the Competition and Consumer Protection Commission (CCPC).

The CCPC has recently pledged to “move faster, take more cases, and become even more of a deterrent to bad actors in the Irish marketplace”.

Tara Kelly, partner and head of competition, antitrust and foreign investment at Mason Hayes & Curran, said: “Recent changes to the Irish competition laws have radically overhauled enforcement in Ireland.

“The authorities now have discretion to pursue criminal or administrative routes, with new powers to impose fines subject to court approval. Unprepared businesses run the risk of over- or under-complying with searches, which could result in significant financial, legal and reputational consequences.

“We are working closely with clients to put comprehensive protocols in place to mitigate these escalating risks.”

The survey reveals that staff preparedness remains a pressing challenge, with nearly two-thirds (63 per cent) citing it as a major concern during dawn raids.

However, three-quarters (74 per cent) of businesses have not conducted dawn raid training within the past year, and over a third (36 per cent) have not implemented formal guidelines.

Liam Heylin, competition, antitrust and foreign investment partner at Mason Hayes & Curran, added: “The competition enforcement landscape in Ireland has shifted dramatically.

“During a dawn raid, regulators can examine data across a number of mediums, including corporate and personal devices used for work. We are advising clients to prioritise staff training so that teams are prepared and know what to do in the event of a dawn raid. Without adequate preparation and clear guidelines, businesses are leaving themselves exposed.”