Vestager nominated to remain as Commissioner for Competition

On 10 September 2019 European Commission President-Elect Ursula von der Leyen presented her list of nominees for the next College of Commissioners, due to take office on 1 November 2019. In an unexpected turn of events, she has proposed that Margarethe Vestager continues in her current role as the Commissioner for Competition, alongside a new … Read more

EU Commission imposes more fines for cross-border sales restrictions – the Hello Kitty case is the latest in a series of cases

On 9 July 2019 the EU Commission imposed a fine of €6.2 million on Japanese company Sanrio for restricting cross-border sales in the EU of its Hello Kitty merchandising products. In addition to direct sales the Hello Kitty products are distributed in Europe through licensed distributors, and Sanrio’s merchandising agreements contained clauses that expressly restricted … Read more

The next step in the battle for data? EU Commission opens formal investigation into Ireland’s insurance market

On 14 May 2019, the EU Commission (“the Commission“) announced that it has opened a formal antitrust investigation into Insurance Ireland, an association of insurance companies active in Ireland (“Investigation“). The association administers a database (Insurance Link), to which its member companies contribute insurance claims data on an ongoing basis. Insurance Ireland makes this database … Read more

Competition Tribunal hands down judgments finding first ever contraventions of the Competition Ordinance

On 17 May 2019 the Competition Tribunal (“Tribunal”) issued two much anticipated decisions in relation to the first and second cases brought before it by the Hong Kong Competition Commission (“Commission”). These judgments are noteworthy because, in addition to establishing the very first contraventions of the Competition Ordinance (“Ordinance”), they clarify a number of key … Read more

EU Commission publishes EURIBOR decision fining three banks €485 million

On 9 April 2019, the European Commission published the full text of its decision to fine Crédit Agricole, HSBC and JPMorgan Chase for participating in a cartel in the euro interest rate derivatives (“EIRD“) sector. While four of the seven participating banks settled the case with the Commission in December 2013, these three banks did … Read more

FCA fines asset managers in first use of its competition powers

The FCA has announced its first decision under its competition enforcement powers, finding three asset management firms have breached competition law. The decision follows a statement of objections issued to Artemis Investment Management LLP (Artemis), Newton Investment Management Limited (Newton), Hargreave Hale Ltd, and River and Mercantile Asset Management LLP (RAMAM) in November 2017 alleging breaches of competition law. … Read more