Personal liability and competition law: a global view

Becoming a theme of increasing concern, competition regimes from across the globe have started to take new measures to sanction natural persons. To address these latest developments, we have provided a global analysis of the issue in our latest client alert – click here to read the full piece.

This update is the third in our series focusing on the significance of competition compliance, which previously discussed the importance of competition compliance programmes and discounts from fines if compliance programmes are in place.

What will post-Brexit competition law enforcement look like?

The EU and UK have very similar systems of competition law enforcement however Brexit has given the UK a degree of autonomy and the opportunity to apply its own rules and regulations independent of the European Commission.  We consider the likely practical impact of Brexit across three key areas of competition enforcement:

  • investigations into violations of competition law;
  • merger control; and
  • state aid.

Read more here

McCarran-Ferguson Act repeal heads to the president as part of the Competitive Health Insurance Reform Act

On December 22, 2020, the U.S. Senate unanimously approved the Competitive Health Insurance Reform Act (CHIRA), previously passed by the House on September 21. If signed by the president, CHIRA would repeal health insurers’ federal antitrust immunity under the McCarran-Ferguson Act for state regulated activity that constitutes the business of insurance. CHIRA preserves some protections for compiling historical loss data, determining loss development factors, and performing certain actuarial services, as well as for developing standard insurance policy forms.

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The COVID-19 pandemic and competition law challenges

The Competition and Markets Authority continues to assert that competition rules have and will continue to apply fully throughout the crisis, even though competition authorities have introduced certain changes in processes which enable flexibility in the approach in which their powers are exercised. But, the uncertainty that still exists around the pandemic makes it difficult to forecast the long-term impact of the crisis on competition law and enforcement. In our latest client alert, we look at the long-term effect of the pandemic on a number of key merger cases, and we also look to the future to consider what might be coming down the track.

The UK’s new National Security and Investment Bill – what do you need to know?

In our latest client alert, we provide a practical overview of the UK’s recently published National Security and Investment Bill, which forms part of a new regime that greatly extends the government’s power to intervene in takeovers of UK businesses if there is a threat to national security.

In addition to proving background on this latest move, we address the following areas which may be of particular interest:

  • Mandatory notification
  • Qualifying entities and assets
  • Voluntary notification
  • Trigger events
  • The Secretary of State’s “call-in” power
  • The call-in power is retrospective
  • Investment Security Unit
  • Penalties and remedies
  • Merger thresholds and the CMA.

Access the full piece here.

Recent cases highlight limitations in price-gouging enforcement

Since the start of the global pandemic, state attorneys general continue to actively pursue price-gouging investigations against individuals and entities, but courts seem to be taking a different, more business-friendly approach. Recent case developments and law amendments highlight the fact that price-gouging laws are subject to limitations. Our team explores these issues in our latest client alert.
 

 

The new EU FDI screening rules are now fully in force – what are the key features that you should know about?

The EU Foreign Direct Investment Screening Regulation introduces the first EU-wide foreign investment screening cooperation mechanism and enables the European Commission and Member States to comment on foreign investments that happen in other Member States. As these rules became fully applicable and operational from 11 October 2020, we pinpoint the key features of the EU’s FDI Screening Regulation, identify the key impact for investors and look ahead to the future. Read our latest client alert for the full update.

Third Circuit rejects courts’ authority to award monetary relief under Section 13(b) of the FTC Act

On September 30, 2020, the United States Court of Appeals for the Third Circuit reversed a historic district court award ordering disgorgement of $448 million in profits to consumers of testosterone replacement drugs under Section 13(b) of the Federal Trade Commission (FTC) Act, adding fuel to the fire of the current circuit split over this section’s interpretation. We outline the key details and offer our analysis of the issue in our client alert.

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