On June 13, 2019, the Paris Court of Appeals ruled that an undertaking can challenge the proportionality of a fine set by the FCA within the range agreed with the Rapporteur Général during a settlement procedure.[1]
Court of Justice Annuls ICAP’s Cartels Fine Due to the Commission’s Failure to Sufficiently Explain Fine Calculation Methodology
On July 10, 2019, the Court of Justice upheld the General Court’s partial annulment of the Commission’s 2015 decision to fine the UK-based broker, ICAP, €14.9 million for facilitating a cartel in the Yen Interest Rate Derivatives (“YIRD”) market between 2007 and 2010, confirming that the Commission had failed to adequately explain its fine calculation.
The FCA Publishes Its 2018 Annual Report
The FCA published its 2018 annual report, which, this year, also provides an overview of the FCA’s policy and results over the last decade (see our article published in the April newsletter[1]).
European Champions Debate Continues
On July 4, 2019, France and Germany, joined by Poland, issued a joint call to modernize European competition rules (“Joint Statement”).[1] This follows the publication in February 2019 of a Franco-German Manifesto for a European industrial policy to foster the creation of European champions.[2] The Joint Statement scales back some of the Manifesto’s far-reaching ideas.
The Commission Grants An Exceptional 50% Fine Reduction To Compensate For Protracted Cartels Proceedings
On July 4, 2019, following two losses at the EU Courts, the Commission re-adopted its decision to fine five Italian manufacturers of reinforcing steel bars for a price-fixing cartel. The Commission reduced the fines by an unprecedented 50% due to the length of proceedings spanning almost two decades.
The FCA Issued Its Second Opinion on French Overseas Territories
On July 4, 2019, the FCA issued an opinion on the functioning of competition for the importation and distribution of consumer products in French overseas territories—one of the FCA’s “priorities” for 2019.[1] The opinion assesses progresses made since the FCA issued its first opinion on French overseas territories, and extends its assessment to online restrictions.
The ICA, the Italian Communications Authority and the Italian Data Protection Authority Issue a Set of Joint Guidelines and Policy Recommendations on Big Data
On July 2, 2019, the ICA, the Italian Communications Authority and the Italian Data Protection Authority (jointly, the “Authorities”) issued guidelines and policy recommendations on the digital sector, and specifically on Big Data (the “Guidelines”).[1]
FCO Presents Annual Report 2018 With a Focus on the Digital Economy and Consumer Protection
On June 27, 2019, the German Federal Cartel Office (“FCO”) published its Annual Report 2018 as well as its biennial Activity Report 2017/2018.[1] Andreas Mundt, the President of the FCO, pointed out that the FCO has a clear digital agenda with a focus on the digital economy and the protection of consumer rights, which it will continue to pursue this year.
RF v. Commission (Case C-660/17 P)
On June 19, 2019, the Court of Justice dismissed an appeal against a General Court order rejecting an appeal filed by RF, a Polish transportation company based in Gdynia, a city on the Baltic sea coast.[1] The General Court had rejected RF’s appeal because the original, signed version reached the General Court’s premises after the deadline to file an appeal. The General Court concluded that RF’s failure to meet the deadline due to a postal delay did not amount to an unforeseeable event or force majeure, which would have allowed for its acceptance, notwithstanding its late arrival in Luxembourg.
CMA Publishes Merger Remedy Evaluation
In June 2019, the CMA published its Merger Remedy Evaluations Report (the Report) – the latest in a series of case evaluations conducted to develop the CMA’s expertise, policy, and practice on merger remedies. The Report notes that its findings will be “used to inform the way in which the CMA approaches remedy design and implementation in subsequent cases.” The Report contains useful guidance for parties on the types of remedies that the CMA is prepared to accept or may require.