European Union

Anticompetitive agreements, European Commission, European Court of Justice, European Union, Information exchange, Judicial review, Restriction by object, Rule of Law

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On January 12th 2023, the European Court of Justice (ECJ) issued its long-awaited judgment in C‑883/19 P HSBC v Commission setting aside the judgment of the General Court (GC) but confirming the European Commission’s finding that HSBC had participated in a cartel in the market for Euro Interest Rate Derivatives (EIRD). The judgment clarifies the procedural safeguards that…

European Union, Industrial policy, Recovery plan, State aid, Temporary Crisis Framework

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Introduction State aid rules have existed since the Rome Treaty and have a negative integration logic: Member States should refrain from distorting competition by helping their own undertakings (an in-depth analysis on state aid, in Hancher, Ottervanger and Slot, see here). These rules naturally trigger tension between what Member States can do with their money…

Abuse of dominance, Digital markets, Digital Markets Act, European Court of Justice, European Union, Ex ante regulation, Hungary, Information exchange, Netherlands

(University Carlos III of Madrid, Spain)/ /Leave a comment

On 13 March 2023, the Ministry of Economic Affairs and Climate of The Netherlands published the first draft of its implementing regulation (the ‘Draft Bill’) subject to public consultation until the 10th of April, to attribute its national competition authority (ACM) with the power to monitor compliance with the DMA in its national territory. The…

European Commission, European Union, Foreign subsidies, Foreign Subsidy Regulation

(Gleiss Lutz)/ /Leave a comment

In Goethe’s famous poem “Der Zauberlehrling”, a sorcerer’s apprentice enchants a broom to do the work for him, using magic in which he is not yet fully trained. The floor is soon flooded with water, and the apprentice realizes that he cannot stop the broom because he does not know how. His famous words “The…

Competition Law 2022, European Union

(University of Vienna, Austria)/ /1 Comment

After the last two editions of the Main Developments in Competition Law and Policy in the European Union (see for 2021 here and for 2020 here), I know you cannot wait for the 2022 edition. Let’s go!   Article 101 TFEU Are We There Yet? Single and Continuous Infringement Just when you think every story…

Blockchain, Competition, European Union, United States of America

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Introduction Blockchain technology is a complex and innovative field that has raised questions about its potential impact on competition laws. As the use of blockchain increases, its unique characteristics, such as market power, interoperability, network effects, and transparency, become increasingly challenging to regulate. To tackle these challenges, competition authorities across the globe, including the European…

European Commission, European Union, Foreign direct investment, Foreign investment, Foreign subsidies, Foreign Subsidy Regulation, Fundamental rights, Merger control, Merger notification, Mergers, Public procurement

(Norton Rose Fulbright, Belgium)/ /Leave a comment

The European Union’s (EU’s) new Foreign Subsidies Regulation (FSR), entered into force on January 12, 2023.  The FSR creates a unique new quasi-antitrust regime to combat distortions of competition in the EU internal market caused by subsidies multinationals receive outside the EU.  It imposes new mandatory notification and approval requirements for acquisitions of significant EU…

European Commission, European Union, Foreign direct investment, Foreign investment, Foreign subsidies, Foreign Subsidy Regulation

(Kirkland & Ellis, Belgium) and , (Kirkland & Ellis)/ /Leave a comment

On 6 February 2023, the European Commission (“EC”) published the draft Implementing Regulation and notification forms (together: the “IR”) relating to the EU Foreign Subsidies Regulation (“FSR”). The EC has launched a four-week public consultation period that will allow stakeholders to comment; i.e., there may still be changes to the IR. However, it can in…

Anticompetitive agreements, Enforcement, European Union, Sustainability

(Norton Rose Fulbright, Belgium) and , (Norton Rose Fulbright)/ /1 Comment

On 10 January 2023, the European Commission (Commission) published Draft guidelines on the application of a new EU antitrust exemption for sustainability agreements involving producers of agricultural products (the Draft Guidelines).  Article 210a of Regulation (EU) 1308/2013 (CMO Regulation), which entered into effect in early 2022, exempts restrictions of competition in agreements that are indispensable…

Abuse of dominance, As Efficient Competitor, Economics, European Court of Justice, European Union, Exclusive dealing, Italy, National competition authorities (NCAs), National court, References for a preliminary ruling

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On 19 January 2023, the EU Court of Justice, answering questions from the Italian Council of State, confirmed that the Intel effects-based approach applies also to exclusive dealing practices and held that competition authorities must duly examine economic evidence produced by dominant undertakings. The court also held that, under certain narrow circumstances, conduct implemented by…