In The News

European Commission opens phase 2 merger investigation into a joint venture for online music licensing between collecting societies PRSfM, STIM and GEMA

The European Commission has opened an in-depth investigation into the proposed creation of a joint venture between three collective rights management organisations in the online licensing of musical works.  The Commission's preliminary investigation indicated that the combination of the music repertoires currently controlled by each of these organisations could result in higher prices and less favourable commercial conditions for digital service providers.  The Commission was concerned that this could lead, ultimately, to higher prices and less choice for European consumers of digital music.  Click here. 

EU

Articles 101 and 102

  • The General Court has dismissed the joined actions brought by Ziegler SA and Ziegler Relocation SA seeking damages from the European Commission for non-contractual liability in relation to the international removal services cartel. In particular, the General Court concluded that the claims for damages arising from the fine imposed by the Commission for an infringement for which the parties alleged the EU was partly responsible was inadmissible because the Commission's decision had been upheld by both the General Court and the European Court of Justice. Click here. 

UK

Financial Conduct Authority

  • The FCA has completed its market study into the cash savings market and has concluded that providers should give consumers better information about interest rate changes and make it easier to switch to other providers or between different accounts. Click here.
  • The FCA is consulting on procedural guidance relating to the competition powers that it will assume from 1 April 2015.  From this date the FCA will have concurrent powers to apply the Competition Act 1998 (and the equivalent provisions of the Treaty on the Functioning of the European Union) and to conduct market studies and make market investigation references under the Enterprise Act 2002.  Click here.  

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.