The European Competition Commissioner, Margrethe Vestager, announced on 20 March 2023 that new State aid investigations into “aggressive tax planning” practices of multinationals can be expected. This follows an in-depth inquiry into tax ruling practices in European Union (“EU”) Member
Covington Competition
The Covington View
Covington Competition, published by Covington & Burling LLP, focuses on competition law and regulatory developments within the European Union and globally. The blog covers topics such as foreign direct investment (FDI) screening regimes, antitrust enforcement including no-poach agreements and minority shareholdings, state aid frameworks supporting industrial and clean energy initiatives, and sector-specific regulatory issues like defense and technology. It analyzes trends in merger control, investment screening, and competition policy enforcement, providing insights into legal and policy intersections affecting corporate transactions, compliance, and market competition.
Latest from Covington Competition - Page 7
The Commission adopts its Temporary Crisis and Transition Framework relaxing State aid rules as a response to the US Inflation Reduction Act
As part of “A Green Deal Industrial Plan for the Net Zero Age” to respond to the US Inflation Reduction Act (IRA) (see our alert), the European Commission (the “Commission”) adopted on 9 March 2023 its Temporary…
ECJ clarifies presumption of innocence in hybrid investigations and scope of restrictions by object in information exchanges (HSBC v Commission)
On 12 January 2023, the European Court of Justice (“ECJ”) published its long-awaited judgment in C‑883/19 P HSBC v Commission.
The ECJ confirmed that HSBC had engaged in anti-competitive conduct but partially overturned the General Court’s (“GC”) judgment on procedural…
Will 2023 Be an Inflection Point in National Security Regulation?
On the heels of Russia’s invasion of Ukraine, pandemic-induced supply chain disruptions, and U.S.-China tensions over Taiwan, 2022 accelerated a sweeping effort within the U.S. government to make national security considerations—especially with respect to China—a key feature of new and…
Countdown to Compliance: the DMA Implementing Regulation
The Digital Markets Act (“DMA”) will apply from 2 May 2023. To facilitate its implementation, the European Commission (“Commission”) aims to publish an accompanying DMA Implementing Regulation (“IR”). In anticipation of this, the Commission has sought feedback via a public…
EU Foreign Subsidies Regulation – Key Takeaways
European Union (“EU”) Foreign Subsidies Regulation (“FSR”), a new state aid instrument adopted at the end of 2022, will have a significant impact on transactions in the EU. The FSR impacts any company that is present in or wants the…
Building a sustainability strategy – what companies can (not) do from a competition law perspective
By Johan Ysewyn
Sustainability governs all policies and sectors of social and economic life. The goal of sustainable development is to meet the needs of today’s generations without compromising the self-sufficiency of future generations. Companies are called upon to innovate as economic conditions…
Inside Privacy Audiocast: Episode 20 – Competition and Privacy Series: The EU’s Digital Markets Act
On Episode 20 of Covington’s Inside Privacy Audiocast, Dan Cooper, Co-Chair of Covington’s Data Privacy and Cyber Security practice, and Christian Ahlborn, Partner in Covington’s Competition practice, discuss the recently enacted EU Digital Markets Act (DMA) in the…
FTC Proposes Rule to Ban Most Non-Competes
On January 5, 2023, the Federal Trade Commission (“FTC”) issued a groundbreaking proposed rule that would, if finalized:
- prohibit most employers from entering into non-compete clauses with workers, including employees and individual independent contractors;
- prohibit such employers from maintaining non-compete
…
The EU Foreign Subsidies Regulation enters into force
Regulation (EU) 2022/2560 of the European Parliament and of the Council of 14 December 2022 on foreign subsidies distorting the internal market (FSR) entered into force on 12 January 2023 and will start to apply as of 12 July 2023.…