Despite the UK’s withdrawal from the EU, the EU Vertical Agreement Block Exemption Regulation (retained VABER) continues to offer a safe harbor with respect to potentially anti-competitive vertical or supply agreements with an effect on trade within the UK. In this Alert, Steptoe’s EU Competition Team analyses the UK Competition and Market Authority’s recently issued
The following note highlights certain barriers to free trade flows between the UK and the EU that have arisen in the post-Brexit era, with particular reference to rules of origin and origin procedures. It assesses the consequences these new rules will have in determining market power, influencing supply chain practices, and the application of UK and EU competition law in the future.
Continue Reading EU/UK Trade Post-Brexit: Rules of Origin and Their Impact on Competition Law
On January 31, the UK exited the EU, after more than three years of constitutional turmoil. The UK now embarks on a year of transition and negotiations as it heads out into a world of new trade relations, with opportunities and challenges in equal measure. This is a watershed moment for all companies who trade in or out of the UK or the EU. Whether trading in goods or services, companies face strategic re-assessments not just of where they trade, but how they organize their trading activities: upstream for inputs and downstream to their customers and markets. How will they be affected – from a regulatory, trade, customs, commercial, investment and disputes perspective?
Continue Reading Brexit – A Long Goodbye
CMA Brexit Draft Guidance
On 28 January 2019 the UK Competition and Markets Authority (‘CMA’) issued draft guidance on the effects of any no-deal Brexit on the CMA’s functions and its enforcement approach. This guidance has been made more urgent by the continuing UK political divisions that have plagued the Brexit process and which could see the UK crash out of the EU without any deal in place on 29 March 2019.
Following an inquiry in July 2017, the House of Lords’ European Union Committee published on February 2, 2018, a report titled – ‘Brexit: competition and State aid’ – on the future of the UK’s competition law regime after Brexit.
The House of Lords report provides a detailed account of the most pressing issues that the UK’s competition law regime is facing ahead of Brexit. It also shows the high levels of uncertainty that businesses operating between the EU and the UK face.
This uncertainty suggests that businesses should – at least for now – adopt a cautious approach, for example, when formulating their distribution and acquisition strategies in the UK.
Whatever the statutory changes to the UK’s competition law regime after Brexit are, EU law will still remain an important factor to consider when taking business decisions, especially because of the geographical proximity and close trading relationships between the UK and the EU. This means that going forward businesses need to have guidance.
Steptoe has years of experience in successfully advising businesses on their strategic decisions in the EU and the UK. Our experienced lawyers can help your business to successfully navigate the demands and potential opportunities of Brexit. …
Continue Reading House of Lords Report on Brexit and Competition: What Does it Mean for Businesses?