Welcome to the Sidley Antitrust Bulletin — thoughts on topics that are top of mind for Sidley’s Antitrust team and why they matter to you. On both sides of the Atlantic, there are interesting legislative movements: In the European Union (EU), the Foreign Subsidies Regulation (FSR) has entered into force, which will affect mergers and public procurement processes alike for companies receiving financial contributions (not just subsidies) from non-EU countries, and in the United States, the State of New York has proposed new price gouging rules, which would implement legislation from 2020. In the UK, there have been important judicial developments as the Competition Appeal Tribunal (CAT), alongside the High Court of England and Wales, found that the UK Competition and Markets Authority (CMA) had exceeded its powers in demanding discovery from parties without a territorial connection to the UK. The CAT also delivered a ruling on certification in a collective proceedings application. The United States Department of Justice (DOJ) announced significant changes to its corporate criminal enforcement program. Interested? Keep reading . . .
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