Ex ante meaning

In this issue: Brexit UK, EU and global regulators and organisations Accountability, culture and societal governance Operational resilience Financial crime and sanctions Complaints, redress and claims handling Investigations, enforcement and disciplinary action Capital markets regulation Derivatives regulation Sustainable finance and ESG Banks and mutuals Investment funds and asset management Insurance regulation FSMA‑regulated pensions activity Payment services and systems Financial Services Enforcement Database Daily and weekly news alerts Intra-day news alerts New and updated content Dates for your diary Brexit Retained EU Law (Revocation and Reform) Act 2023 (Commencement No 2 and Saving Provisions) Regulations 2024 SI 2024/714: These Regulations exercise the legislative powers conferred by the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) in connection with assimilated law. They bring into effect REUL(RR)A 2023, s 6 (role of the courts) from 1 October 2024. See: LNB News 29/05/2024 2...

In this issue: Authorisation, approval and supervision Prudential requirements Risk management and controls Financial crime and sanctions Conduct requirements Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Packaged Retail and Insurance-based Investment Products (PRIIPs) Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management FSMA regulated pensions activity Payment services and systems Fintech and cryptoassets Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Authorisation, approval and supervision FCA publishes 2024/25 final rates and fees The Financial Conduct Authority (FCA) has released the 2024/25 final rates and fees for its annual funding requirement (AFR). The page further explains the factors the FCA weighs when working out annual fees, plus details on fee blocks, additional...

In this issue: EU fundamentals Competition and state aid Data protection and cybersecurity Free movement, immigration and employment Financial services Energy Environment IP Life sciences Regulatory TMT International trade Daily and weekly news alerts New and updated content EU fundamentals European Commission releases May 2024 infringement package The Commission has published the May 2024 infringement package, setting out the EU Member States it is taking action against for failing to comply with their obligations under EU law. The May 2024 package comprises formal letters of notice to Portugal for not correctly transposing Directive 92/43/EEC (the Habitats Directive), to Italy for failing to fully and correctly transpose Directive (EU) 2019/904 (the Single-Use Plastics Directive) and for breaching obligations under Directive (EU) 2015/1535 (the Single Market Transparency Directive), and it also refers Italy to the Court of Justice for failure to ensure the correct implementation of Directive 2014/89/EU (the Directive establishing...

This month features a standstill and hold separate order by the Belgian Competition Authority against Proximus for a non-notifiable acquisition under abuse of dominance rules; amendments to Morocco’s merger control thresholds; the publication of draft Swiss legislation introducing, amongst other measures, a new exemption from the notification obligation; and the Federal Trade Commission in the USA proposing changes to the pre‑merger notification form and process. Belgian—BCA imposes standstill and hold separate order under abuse of dominance rules In our March 2023 monthly merger update, we noted that the Belgian Competition Authority (BCA) had launched an ex post investigation, based on abuse of dominance rules, into Proximus, the incumbent Belgian telecoms operator, following its recent acquisition of EDPnet. The transaction did not meet Belgian merger control thresholds owing to EDPnet’s turnover. This move follows the Court of Justice’s Towercast judgment of 16 March 2023, which confirmed that concentrations below merger thresholds can be subjected to ex post scrutiny for abuse of dominance. Towercast therefore recognises an additional path...

CASE HUB ARCHIVED —this preserved case hub records the position as at the judgment dated 4 March 2021; it is no longer maintained. See the published timeline for further details and additional context provided thereafter. Case facts Outline Case C‑362/16 Commission v Fútbol Club Barcelona — an appeal to the Court of Justice directly challenging the General Court’s judgment in Case T‑865/16, which had upheld an action for annulment of the European Commission’s decision that identified tax advantages afforded to Spanish clubs as being in breach of the State aid rules (SA.29769). Latest development On 4 March 2021, the Court of Justice delivered its judgment, allowing the appeal, setting aside the General Court’s judgment, and deciding not to refer the case back to the General Court...

Competition concerns arising from collective dominance and oligopolies can be addressed under EU competition law, namely: Article 101 TFEU Article 102 TFEU the EU Merger Regulation (EUMR) This Practice Note examines collective dominance and oligopoly matters outside Article 101 TFEU. The idea of collective dominance has developed through case law under Article 102 TFEU and the EUMR. While the case law indicates the concept is alike under both, there are key differences in the assessment undertaken in each setting. Collective dominance and Article 102 TFEU Article 102 TFEU prohibits abuses by one or more undertakings of a dominant position (see further, The prohibition on abuse of dominance). EU case law confirms Article 102 TFEU also covers abuses where a dominant position is held collectively by several undertakings that may not, individually, be dominant. To establish an abuse of collective dominance contrary to Article 102 TFEU, it must be shown that: a collective position exists between separate...