Marking the 20th anniversary of the cooperation agreement between the United States and the
European Union regarding the application of their competition laws, the US and EU antitrust/competition agencies have published a revised set of Best Practices on Cooperation in Merger Investigations ("Best Practices").
On 19 October, the UK Office of Fair Trading ("OFT") published for consultation two draft guidance documents intended to help businesses and company directors comply with competition law. Both documents provide a useful steer to businesses and their senior management grappling with this important issue.
There is an unprecedented focus by the competition authorities in Europe on the food sector, and this sector is being subjected to a root and branch review. Large processed food suppliers and retailers are likely to be a particular focus of attention.
Commissioner designate for Competition, Joaquín Almunia, stated during his recent hearing before the European Parliament, that he intends to adopt a reviewed Vertical Block Exemption Regulation ("vBER") before the end of May 2010.
The Russian legislator amended Article 178 of the Criminal Code of the Russian Federation ("the New Law"). The New Law sets up criminal penalties for violations under Article 11 (cartels) and Article 10 (abuse of dominant position) of Russia’s Law "On Protection of Competition" No 135-FZ ("the Law No 135-FZ").
On November 12, 2009, computer microprocessor maker Intel Corp. (Intel) announced an agreement to pay competitor Advanced Micro Devices (AMD) $1.25 billion to settle all pending litigation between the two.
The Dutch financial conglomerate ING Group, under pressure from the European Commission, recently announced plans to accelerate the sale of its insurance operations and its internet banking business in the United States.
The Competition Commission of India (Lesser Penalty) Regulations, 2009 have been published in the official gazette. These regulations are the Competition Commission of India’s (CCI) version of the successful leniency programs in the United States and Europe.