EU Law, competition and regulation

Articles - Regarding activities taking place at sea, the applicability of EU law depends on the nature and geographic location of the activity as well as on the formulation of the geographical scope of the legal instrument.

Seminar - Le 15 Octobre 2020, François Bernard (Stibbe Luxembourg) animera le séminaire au titre "L’aube d’une nouvelle ère de mobilité transfrontalière pour les entreprises au sein de l’Union européenne", organisé par Paperjam dans les locaux de la Chambre des Salariés du Luxembourg.

Short Reads - Competition Commissioner Vestager presented a sneak peak of her plans for the future of EU merger control on the 30th anniversary of the EU Merger Regulation. The proposed plans include a simplification of the notification procedure and a new approach towards the system of referral to ensure that significant transactions, particularly in the digital and pharmaceutical industries, no longer escape Commission scrutiny.

Short Reads - Enforcement of competition rules in relation to indirect information exchange seems to be catching on; while the European Commission only flagged the risks in its consumer electronics cases, the ACM has taken up the challenge and imposed fines. Four cigarettes producers were fined a total of EUR 82 million for allegedly indirectly exchanging information on the future retail prices of cigarettes through their wholesalers and other buyers. According to the ACM, the manufacturers knowingly accepted this information and used it to determine their own pricing strategies.

Articles - The Law of the Seabed reviews the most pressing legal questions raised by the use and protection of natural resources on and underneath the world’s seabeds.

Articles - On 6 October 2020, the European Union list of non-cooperative jurisdictions (the “EU List") was updated. The changes have an impact on bill of law nº 7547, providing that, as from 1 January 2021, interest or royalties, accrued or paid, should no longer be deductible for tax purposes when the beneficiary is a related enterprise established in a country included in the EU List.

Short Reads - The results of the European Commission’s evaluation of the Vertical Block Exemption Regulation (VBER) call for more clarity and convergence in the interpretation of certain (online) vertical restrictions. However, the Dutch competition authority (the ACM) and the Dutch courts cannot wait for the European Commission’s revised VBER rules to deal with such sales restrictions.

Short Reads - On 8 September 2020, a draft bill setting up an ex-ante and ex-post screening mechanism for investments in companies active in vital processes or sensitive technology in the Netherlands was published for consultation. Investments, mergers and acquisitions that took place between 2 June 2020 and the entry into force of the proposed law may also be scrutinised. The draft bill is open for consultation until 7 October 2020. Companies should beware of these new developments in relation to future, and potentially past, M&A deals.