Publication
Grenfell Inquiry second report: bracing for change in the UK construction industry
On 4 September 2024, the long-awaited Grenfell Tower Inquiry: Phase 2 Report (the Grenfell Report) was published.
Australia | Publication | February 2022
Competition and antitrust regulators around the world have joined forces to combat anticompetitive conduct in supply chains, in the face of rising costs of distribution and increased costs to consumers.
The Australian Competition and Consumer Commission (ACCC), US Department of Justice and Federal Bureau of Investigation (FBI), Canadian Competition Bureau, NZ Commerce Commission, and UK Competition and Markets Authority have built on their existing formal (most recently the Multilateral Mutual Assistance and Cooperation Framework for Competition Authorities1) and informal cooperation agreements with the announcement on 18 February 2021 of the ‘Five Eyes’ working group.2 The group will share intelligence to identify, target and prevent anti-competitive conduct in global supply chains.
Agreements between competitors on bids, prices, market allocation and output are deemed anticompetitive and are prohibited outright (cartel conduct). The actions of a single supplier with a substantial share of all supply (market power) can distort competitive tension that would otherwise exist in a competitive market. Reaching an agreement or understanding that is anticompetitive in purpose or effect can also be prohibited.
Collusive or anticompetitive conduct indicators can include:
These indicators warrant further investigation and is conduct of the kind that will be considered closely by global authorities as to whether it is collusive or anticompetitive, adversely affecting consumer markets.
Although competition and antitrust laws around the world may differ slightly, each of the ‘Five Eyes’ jurisdictions competition and antitrust laws are underpinned by the same prohibited conduct – cartels, misuse of market power/abuse of dominance and anticompetitive arrangements. The investigative tools available to regulators is vast, including the FBI’s covert intelligence gathering capabilities, including phone tapping. Where this intelligence will be shared across global authorities, the detection risk increases dramatically. Where the conduct affects multiple global markets, concurrent global investigation and enforcement is likely with global regulators building on their successful prosecutions to date.3
In reference to the FVEY intelligence alliance between the same nations.
Publication
On 4 September 2024, the long-awaited Grenfell Tower Inquiry: Phase 2 Report (the Grenfell Report) was published.
Publication
On 3 September 2024, the ECJ delivered its judgment in Illumina’s appeal against the General Court’s (GC) judgment confirming the European Commission’s (EC) powers to review concentrations under the EU Merger Regulation (EUMR) in circumstances where no Member State has jurisdiction under national law.
Publication
One of the driving forces of the ‘fourth industrial revolution’ - AI- has the potential to redefine and disrupt industries worldwide. The MENA insurance industry is no exception, offering a unique landscape for AI adoption characterised by significant challenges and opportunities. Middle East Insurance Review spoke to Norton Rose Fulbright’s Ms Shabnam Karim and Messrs Shiv Daddar, Simon Lamb and Marcus Evans to find out more.
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