In a ruling dated June 28, 2023, the Cour de cassation[1] upheld the Paris Court of Appeals’ judgment which had reversed the 2010 decision of the French Competition Authority fining 11 banks for an anticompetitive pricing agreement in relation to check processing. The Cour de cassation ruled that the FCA had improperly qualified the agreement as a “by object” infringement when no sufficient degree of harmfulness to competition was proven. This ruling puts an end to a 13-year old judicial saga.
On 25 May 2023, the High Court ordered that an individual disqualified by the Competition and Markets Authority (CMA) may continue as the director of Cantillon, a construction company fined £1.92 million for its involvement in a bid-rigging cartel.[1] The High Court’s Order—which was opposed by the CMA—is the fourth time since 2019 that the Court has granted an exemption from a director disqualification undertaking obtained by the CMA.
On April 12, 2023, the French Competition Authority (“FCA”) imposed a €3.5M fine on market intelligence company Ellisphere for price-fixing and market-sharing practices, marking the first successful application of the watchdog’s leniency regime since it was reformed under the ECN+ Directive.[1]
On February 28, 2023, the UK’s Competition and Markets Authority (“CMA”) demonstrated its thought leadership in the integration of sustainability and competition policy by publishing draft guidance (“Draft UK Guidelines”) on the application of competition rules to agreements between competitors to tackle environmental sustainability objectives.[1]
On August 30, 2022, the Federal Cartel Office (“FCO”) published its Annual Report 2021/2022.[1] Andreas Mundt, the President of the FCO, pointed out two areas of the FCO’s focus: First, the collusion of undertakings under the guise of inflation and Russia’s war against Ukraine. Second, to use the flexibility of antitrust law to allow for a degree of cooperation that is necessary in times of crisis. Moreover, the FCO continues to pursue its digital agenda for the digital economy and the protection of consumer rights.
Last year we noted that U.S. antitrust enforcement was in a period of nearly unprecedented public attention and policy debate, and also that the Biden Administration seemed likely to launch significant new policy initiatives as the year progressed.
On January 5, 2023, the U.S. Federal Trade Commission (“FTC”)proposed a rule that would prohibit employers from entering into non-compete agreements (“non-competes”) with workers and require them to rescind all existing non-competes by written notice.
In the latest episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy interviews Andreas Mundt, President of the Bundeskartellamt.