On 16 April 2019, England’s Court of Appeal ruled that the Competition Appeals Tribunal (the “CAT”) had erred in rejecting certification of former financial ombudsman Walter Merricks’ class action against MasterCard, for £14 billion. As a result, the CAT will now reconsider whether to certify the class. The decision has lowered the bar that will need … Continue Reading
On 21 January 2019, the UK government published its draft statutory instrument on State aid, outlining the changes to the UK State aid regime in the event of a no deal Brexit. Its publication comes at critical moment for the UK as it considers the potential options for leaving the European Union: (i) leave with a … Continue Reading
Potentially significant changes are just around the corner for the UK competition system, as the country prepares to take the final step of exiting the European Union. In this regard, the UK has three potential options: (i) leave with a deal; (ii) leave without a deal; or (iii) postpone the date of leaving. Should the … Continue Reading
In its 13 November 2018 judgment in Merricks v MasterCard, the English Court of Appeal (the CA) determined that a refusal by the Competition Appeal Tribunal (CAT) to grant a Collective Proceedings Order (CPO) can be appealed to the Court of Appeal. A CPO is the order by which the CAT authorises a class representative … Continue Reading
In October, the UK’s Competition and Markets Authority (CMA) imposed a fine of 1.6 million GBP for a land agreement which it found to infringe competition law. This is the first time that the CMA has taken enforcement action and issued a fine in relation to a land agreement, despite such agreements having been covered … Continue Reading
On 8 October 2018, the UK Competition and Markets Authority (“CMA”) published a Working Paper on the ‘use of pricing algorithms to facilitate collusion and personalized pricing’ (the “Paper”). It follows a number of other initiatives from competition authorities regarding algorithms, including the recent German Monopolies Commission’s proposals regarding pricing algorithms, which was the subject … Continue Reading
The UK Government published its highly-anticipated technical guidance on merger review and anti-competitive activity on 13 September 2018 which will apply in the case of a ‘no-deal’ Brexit (the ‘Guidance’). Although brief, it provides market players with some form of practical advice and insights on what to expect, how cases are likely to be divided … Continue Reading
The Financial Conduct Authority (“FCA”) has published its third Annual Competition Report which focusses on its proposals for promoting competition and innovation, particularly with respect to the impact of FinTech on UK financial services. It also addresses the FCA’s ongoing role in supporting the UK Government prepare for Brexit, and uphold an orderly transition as … Continue Reading
On 23 August 2018, the UK government published a notice, committing the UK to a continued application of state aid rules even in the event of no deal being agreed with the EU on the UK’s withdrawal. The notice explains how EU state aid rules would be transposed into UK domestic legislation. The Competition and … Continue Reading
Introduction Gun-jumping has been in the spotlight this year both at the European level and in the UK. At the EU level, first there was DG Competition’s record fining of Altice of € 124.5m (here) and then the Court of Justice of the EU (“CJEU”) ruled on the scope of the EU law standstill obligation … Continue Reading
