This article (which is based on a Competition and Markets Authority submission to an OECD Roundtable on the Extraterritorial Reach of Competition Remedies) considers the role of extraterritorial remedies in UK merger control. The UK Courts have confirmed that the CMA is able to extend its jurisdiction in relation to remedies over conduct outside the UK in certain defined circumstances. This supports the CMA's ability to protect UK consumers in a globalized economy. Notwithstanding these powers, the CMA may take the additional risks that can arise around the implementation of extraterritorial remedies into account, where relevant, when designing remedies. In the CMA's experience, the challenges involved in designing and implementing extraterritorial remedies can best be addressed by close co-operation between different jurisdictions’ competition authorities.
Maxwell Harris, Maria Duarte, Colin Raftery, Alistair Thompson and Michael Jewell
Eleni Gouliou, Colin Raftery, James Brassington and Juste Kapustaite
This article considers, with reference to recent cases, the approach of the Competition and Markets Authority in investigating mergers in dynamic markets. It examines the CMA's jurisdictional and substantive tools, sources of evidence, the use of counterfactuals, the assessment of when a merger may result in a substantial lessening of competition and appropriate remedies. The article concludes with a brief discussion on whether existing merger control tools are likely to be sufficient to ensure that merger control is able to continue to adequately protect consumers in dynamic markets in the future.