How will Brexit affect competition law?01 Aug 2016
Next in our series of five articles on the legal implications of Brexit on Commercial Contracts, Kuits’ Commercial and Intellectual Property partner Martin Lewis looks at competition law.
– All trading businesses need to comply with competition law.
– This is particularly important for businesses which compete within/across the EU.
– Current UK competition law is heavily harmonised with EU competition law.
• Potential issues:
– The EU regime will, in any event, continue to apply if your activities “affect inter-state trade within the EU”.
– Therefore, after Brexit, you may need to comply with multiple regimes – ie both EU and UK.
– Existing EU Block Exemptions may need replacing with UK ones, after Brexit.
– Investigations will become possible from both the UK and EU competition authorities (which isn’t currently possible).
• Things to do now:
– Consider whether your activities affect EU trade, and focus on your higher risk contracts.
– Seek to remain compliant with current EU/UK laws, and watch out for any future relaxations or changes.
• Things to watch out for in the future:
– Monitor changes in laws, regulators and required approvals in your sector.
Kuits will monitor this area on behalf of clients. If you’d like to join the mailing list for commercial updates on Brexit, sign up by emailing firstname.lastname@example.org.