Antitrust and Brexit – where do we stand?
12 January 2021
Now that the UK is no longer an EU Member State, it gains new freedom to pursue its own enforcement and policy agenda. While the Christmas Eve agreement on the future relationship between the EU and the UK (Future Relationship Agreement) makes some provision for a level playing field for “open and fair competition”, it is for the most part framed broadly – that both parties will maintain an effective competition law, with an independent authority to enforce the rules. The UK therefore retains a wide discretion to chart its own course.
Our article explores what Brexit means for merger control, antitrust investigations and enforcement and State aid/subsidies, and how this is likely to impact business.
the bottom line is that companies active in the UK and the EU are now subject to parallel regimes, with the UK Competition and Markets Authority having the ability to review (potentially identical) transactions and behaviour alongside the European Commission