Policy & Procedure

On 4 September, the Department for Business and Trade launched a consultation on proposals designed to improve the quality and accessibility of information for consumers making purchases. The background to the consultation is: (i) the government’s review of the Price Marking Order 2004 (PMO), which implemented the EU Price Indications Directive and therefore now can be amended following Brexit, (ii) the CMA’s report on grocery unit pricing,[1]  (iii) Government research into drip pricing and hidden fees,[2] and (iv) the Digital Markets, Competition and Consumers (DMCC) Bill, currently going through the legislative process in Parliament.

On August 17, 2023, the European Commission (EC) decided to review Qualcomm’s acquisition of the Israeli-based semiconductor company Autotalks, even though the deal was not reportable at EU or Member State level.  Just one day later, on August 18, 2023, the EC also accepted jurisdiction over another non-reportable deal – European Energy Exchange’s (EEX) acquisition of Nasdaq’s European power trading and clearing business (Nasdaq Power).

On 9 August 2023, the Competition and Markets Authority (CMA) and Information Commissioner’s Office (ICO) published a joint position paper on online choice architecture (OCA), titled “Harmful design in digital markets: How Online Choice Architecture practices can undermine consumer choice and control over personal information”.  The paper forms part of the agencies’ work under the Digital Regulation Cooperation Forum, which brings together multiple UK regulatory bodies to advance their combined thinking on regulatory issues in the digital economy.

On 12 July, 2023, the Financial Conduct Authority (FCA) published a Feedback Statement summarising responses to its October 2022 Discussion Paper entitled “The potential competition impacts of Big Tech entry and expansion in retail financial services.”[1]

Making markets work for consumers is a core mission for UK agencies with competition and consumer protection responsibilities.  This task assumes heightened importance in the context of current cost-of-living pressures.  In this post, we discuss recent regulatory interventions that have focused on these issues.

On July 5, 2023, the German Parliament (Bundestag) passed the Competition Enforcement Act, amending the German Act Against Restraints of Competition (“ARC”) for the 11th time (“11th Amendment”).  This comes only two and a half years after the last significant amendment in 2021, which granted the Federal Cartel Office (“FCO”) unprecedented investigative powers.[1]  The 11th Amendment once again equips the FCO with additional enforcement powers.

On 11 July 2023, the UK Government published its second Annual Report on the National Security and Investment Act 2021 (the “Act”).

The Annual Report begins with an introduction by Oliver Dowden MP, the Deputy Prime Minister, who is the formal decision-maker under the Act in his role as the Secretary of State in the Cabinet Office.  This introduction seeks to reassure investors that the Act is a “light-touch, proportionate regime that offers companies and investors the certainty they need to do business, while crucially protecting the UK’s national security in an increasingly volatile world.”

On June 29, 2023, the French Competition Authority (“FCA”) published its Opinion on competition in the cloud sector following a sector inquiry.[1]  The Opinion examines various practices currently implemented or likely to be deployed in this sector which have the potential to restrict competition.  The Opinion provides a blueprint for future investigations, setting out the theories of harm that the FCA may put forward in the context of abuse of dominance, abuse of economic dependency, anticompetitive agreements or merger control cases.