EU and UK Finalize Deal to Strengthen Antitrust Cooperation

The European Union and the United Kingdom are putting the final touches on a pivotal agreement that aims to bolster collaboration between their respective competition regulators, according to the Wall Street Journal. The move comes in the wake of a broader trade and security pact that seeks to improve post-Brexit ties.

The European Commission announced Tuesday that the new framework will facilitate closer cooperation between EU authorities and the UK’s Competition and Markets Authority (CMA) in enforcing competition rules. As outlined by the Commission, the deal sets up protocols for both sides to alert one another about significant antitrust and merger investigations and to work together on cross-border cases.

Per the Wall Street Journal

Per the Wall Street Journal, this development marks a significant step in aligning regulatory approaches despite the UK’s departure from the EU. The arrangement ensures that regulators on both sides of the Channel will have a formal mechanism for coordination, although access to confidential business data will still require company consent, in line with existing privacy safeguards.

The agreement follows a new trade and security accord signed on Monday, intended to ease tensions and foster smoother cooperation between Brussels and London after years of friction. The broader political agreement provides the foundation for renewed trust, with competition policy emerging as a priority area for alignment.

In the backdrop of these developments, both the EU and the UK are ramping up efforts to enforce newly introduced antitrust laws targeting dominant digital platforms. These laws are part of a wider push to curtail the market influence of global tech giants and ensure a competitive digital marketplace.

“This agreement shows our shared and strong commitment to continue working together for effective and balanced competition enforcement, including in the digital sector, and to ensure a level playing field in Europe,” said Teresa Ribera, the EU’s top antitrust enforcer.

Source: WSJ