In the wake of US Supreme Court precedent in the 2021 AMG Capital Management LLC v. Federal Trade Commission decision, the FTC is doubling down and expanding its enforcement efforts to target executives, directors and owners, including private equity, in an effort to hold accountable anyone profiting from anti-competitive conduct or conduct harmful to consumers. William Roppolo, Ashley Eickhof and Annasofia Roig explores this issue in an article published in Law360.
On 17 November 2022, the Competition and Consumer Commission of Singapore issued an infringement decision against four warehouse operators for infringing section 34 of the Competition Act 2004. The four warehouse operators had entered into a price-fixing arrangement by imposing a coordinated surcharge, known as the “FTZ Surcharge”, for warehouse services at Keppel Distripark. The FTZ surcharge is a surcharge imposed by warehouse operators on import cargo stored within the Free Trade Zone, and it was first introduced in order to manage rising costs. The CCCS imposed a total financial penalty of SGD 2,799,138 on the four businesses, namely CNL Logistics Solutions Pte. Ltd., Gilmon Transportation & Warehousing Pte. Ltd., Penanshin (PSA KD) Pte. Ltd. and Mac-Nels (KD) Terminal Pte. Ltd.
In an increasingly connected world, a holistic perspective is essential to capture commercial opportunities while mitigating evolving risk. This podcast series spans markets, sectors and areas of laws to uncover forward-looking insights from Baker McKenzie and industry experts on driving growth in your organization. The first episode covers Collaborating with Competition: Shaping a New Framework for Net-Zero Success.
Welcome to our Virtual Year-End Review of Import/Export and Trade Compliance Developments Conference resource center. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements in nine 75 minute sessions which took place from 15 to 17 November 2022.
Amendments to the Competition Act that come into force on 23 June 2023 will make it a criminal offense for employers to enter into no poach, wage fixing or other agreements related to the terms and conditions of employment in Canada. In this In Focus video, our Labor and Employment and Competition and Foreign Investment Review lawyers discuss the risks associated with non-compliance and what employers should consider as they prepare for the prohibition to come into effect.
The Digital Markets Act (EU Regulation 2022/1925) came into force on 1 November 2022, with the aim of promoting fair business practices in the digital industry in Europe. While the DMA itself may have no direct implication for Indonesia, the KPPU – Indonesia’s competition authority – often refers to developments and thought-leadership on enforcement from other prominent jurisdictions, including the EU. Digital businesses operating in Indonesia may use the DMA as a navigation tool, and clients may find the practical risk mitigation tips useful.
On 10 November 2022, following a 3-1 vote, the Federal Trade Commission issued a policy statement expanding its interpretation of the scope of unfair methods of competition under section 5 of the Federal Trade Commission Act. Section 5 of the FTC Act prohibits “unfair methods of competition,” which covers conduct that violates antitrust laws or section 5 itself.
On 27 October 2022, the Investigating Authority of the Federal Economic Commission (COFECE) published a notice initiating an investigation into the marketing of services related to credit card transactions in the form of deferred payments with interest-free months due to alleged absolute monopolistic practices (or cartel practices), in particular, price fixing and the exchange of commercially sensitive information.
We’re pleased to present the eighth edition of Ukrainian Laws in Wartime: Guide for International and Domestic Businesses, a brief overview of the key features of wartime legislation.
This issue contains updated responses to the most common questions raised and considered by international and Ukrainian businesses.
Regulators and courts in common law jurisdictions around the world are being given significant and increasing powers to impose financial penalties without traditional criminal law safeguards. Competition law has been particularly susceptible to arguments that traditional safeguards should be discarded to aid regulators in securing convictions. In the first competition case to go to trial in Hong Kong, the Competition Tribunal held in 2019 that in competition proceedings seeking financial penalties, the authority had the burden to prove its case beyond reasonable doubt. This article considers the approach taken in other common law jurisdictions and scope to argue for increased safeguards and human rights protections for clients facing financial penalties.