On June 9, 2020, the UK Competition Markets Authority (CMA) served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Facebook in relation to their completed acquisition of Giphy.

The CMA has explained in a statement that the proposed investigation would explore whether the acquisition might result in “a substantial lessening of competition in any market or markets in the UK.” The UK merger system is a voluntary one, even where the transaction meets the qualification tests for merger review by the CMA. If a qualifying transaction is not notified, the CMA has the power to require parties to suspend implementation, pending a merger review.


Continue Reading UK Competition Authority Enquiry into Facebook’s Acquisition of Giphy

The CMA has provided guidance on its expected approach to merger assessments during the Covid-19 pandemic. While the timescales and substantive assessment of a merger’s effects on competition remain unchanged, the CMA has made a number of adjustments to its working arrangements in order to meet deadlines and progress cases. However, it is likely that some aspects of investigations may be subject to some delay.

Continue Reading CMA Guidance on its Approach to Merger Assessments during the COVID-19 Pandemic

In a series of recent statements, the UK Financial Conduct Authority  (FCA) has set out how it expects the insurance industry to help consumers and businesses affected by the coronavirus.

The FCA would like to see a degree of consistency across the industry in how business interruption claims are handled. To help to achieve such consistency, the FCA is planning to ask the English court to make declarations about the scope of various business interruption (BI) clauses.


Continue Reading FCA’s Statements about Insurance and the Coronavirus: Competition Considerations

In these extraordinary times, economies around the World including Member States are pumping money into their economies.  Businesses and whole sectors are crying out for special support.  State support in the EEA above a low de minimis threshold is subject to strict state aid rules which requires pre-clearance by the European Commission under strict conditions. 

Brexit may well be around the corner, but antitrust enforcement is still alive and well on the other side of the Channel. On November 2, 2018, the Competition and Markets Authority (CMA), the UK national competition authority, announced that it had provisionally found that ComparetheMarket, a home insurance price comparison site, may have infringed both

On February 16, 2018, the UK Court of Appeal adopted its much awaited ruling in the iiyama case. Taking stock of the Court of Justice (CoJ) ruling in Intel last year, the Court of Appeal allows plaintiffs in civil cartel damages actions to advance claims based on overcharges incurred by their supply chain operations outside

In an open letter published shortly before the opening of the London Fashion week on September 12, 2017 (see here), the UK Competition and Market Authority (CMA) sent a strong reminder to creative industries that they are prohibited from engaging into price coordination and information sharing between competitors.

The CMA Letter: What’s In It?