According to a recent report issued by the department of Business, Energy and Industrial Strategy (BEIS), the Investment Security Unit (ISU) received 222 notifications in the first three months of the UK’s new National Security and Investment Act 2021 (NSIA) coming into force. Of these notifications, 17 were called in for further assessment. This report … Continue Reading
The Competition & Markets Authority (‘CMA’) recently published its response to the Department for Digital, Culture, Media & Sport’s (‘DCMS’) policy paper on establishing a pro-innovation approach to regulating artificial intelligence (AI) on 29 September 2022. This response corresponds with the new National Security & Investment Act 2021 coming into force. The National Security & Investment Act will see … Continue Reading
On 20 July 2021, the UK government announced a consultation, titled “A new pro-competition regime for digital markets” (the Consultation), which proposes a number of radical changes that would introduce a new regulatory regime applying to the largest digital platforms operating in the UK. The proposals include formally establishing a Digital Markets Unit (DMU) within … Continue Reading
On 20 July 2021 the Secretary of State for Business, Energy and Industrial Strategy (BEIS) published a consultation, which proposes a number of potentially far-reaching changes to competition and consumer law and policy. The proposed reforms set out in the consultation, Reforming Competition and Consumer Policy: Driving growth and delivering competitive markets that work for consumers (the Consultation), … Continue Reading
The new Subsidy Control Bill (the Bill) recently had its first reading in the House of Commons. Once passed into law, this Bill will introduce a new UK regime regulating the distribution of subsidies from government bodies to businesses in the UK. The Bill is significant and is expected by many to be the biggest … Continue Reading
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 … Continue Reading
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 … Continue Reading
In our latest client alert, we take a detailed look at the key differences between the Japanese foreign investment regime and the newly proposed UK regime, and discuss whether the UK should consider adopting any of the Japanese exemptions – read about it in full, here.… Continue Reading
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 … Continue Reading
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 … Continue Reading
With reports of excessive pricing on the rise around the globe, it is critical that companies understand the price gouging rules and regulations and their enforcement in each country where they do business. Our team has compiled a global price gouging resource guide to help our clients navigate the differing approaches taken by governments and regulatory … Continue Reading
In certain jurisdictions, having a tailored and comprehensive compliance programme in place may reduce the size of a fine resulting from anticompetitive activity. Members from across our global competition team have come together to analyse the approaches of key jurisdictions and whether they offer discounts for businesses that have breached competition rules but have a … Continue Reading
Though competition compliance programmes may differ across jurisdictions, having one is widely regarded as essential. A way to ensure competition rules are effectively followed is to ingrain competition compliance into company culture. In our latest client alert, we consider the Competition and Markets Authority’s recent initiatives, and what steps businesses can take to foster a … Continue Reading
At a Glance: The CMA’s conclusion that it has jurisdiction to review Amazon’s 16% shareholding in Deliveroo serves as a reminder that control can arise even at low levels of shareholding. Minority shareholders who enjoy significant influence on the company’s policy direction and strategic commercial decisions may be considered to have sufficient control to trigger … Continue Reading
At a glance The Competition and Markets Authority (CMA) has recently taken action against companies that have not complied with market investigation orders and undertakings across a range of industries. The CMA appears to be more actively enforcing against breaches of market investigation orders and undertakings – the remedies imposed by the CMA to address adverse … Continue Reading
As the UK takes steps to introduce new foreign direct investment (FDI) rules, it is important for investors from outside the UK or EU to consider these new rules at the outset of transactions in particular sectors. We discuss this latest move and consider what impact the new measures may have, in our latest client … Continue Reading
At a glance First formal action against price gouging in the UK Case will be a test of the fitness of the current legal framework to tackle price gouging Approach to establishing dominance and excessive pricing in the COVID-19 context will impact future enforcement in the UK and possibly in other jurisdictions Amongst the initial … Continue Reading
Earlier this month, the UK Competition and Markets Authority announced that it has prohibited the completed acquisition by JD Sports of Footasylum. We take a detailed look at the case and consider what the CMA’s third prohibition decision of the year signals for future merger activity in the UK. Read the full client alert here. … Continue Reading
With COVID-19 sweeping across the globe, competition law authorities and legislative bodies across the world are having to act quickly and flexibly to minimise disruption while ensuring business compliance and consumer protection. In our recent client alert, we take a look at how COVID-19 is shaping the competition landscape from a multi-jurisdictional perspective, honing in … Continue Reading
On the grounds of national security, the UK Government made a surprising intervention in the U.S private equity firm Advent International’s proposed acquisition of Cobham plc, a British aerospace and defence company. Since the decision back in September to look into the acquisition, the UK Competition Market Authority has submitted a review to establish if … Continue Reading
ICAP’s successful appeal against the EU Commission’s €14.96 million fine for facilitating banks in influencing the LIBOR/TIBOR rates is hugely significant and signals a significant set back for the EU competition authority. The case was complicated and unusual from the start, the European Court of Justice clarified the level of detail required in a decision … Continue Reading
The recently proposed Sainsbury’s/Asda merger would have combined the second- and third-largest UK supermarkets. The merger would also have created the largest retailer of fuel by volume in the UK. The UK Competition and Markets Authority (CMA) decided to step in and concluded that the prohibition of the merger was the only way to go. Most … Continue Reading
A commonly held view is that merger control filings are not relevant for minority investments. On Friday, 5 July 2019, the UK Competition and Markets Authority (CMA) announced that it had issued an order to hold separate to Amazon.com Inc and Roofoods Ltd (trading as Deliveroo). We understand that Amazon had made an investment for … Continue Reading
