Market investigations are often long and intensive and can result in intrusive remedies. We have supported clients through a large number of such investigations, providing advice on the issues that are central to the case, alongside empirical economic and financial analysis.
Many competition authorities are entitled to open wide-ranging investigations into markets to explore whether they suffer from any features that lead to competition working less effectively than it might. The authorities have the ability to engage in remedial action to varying degrees, with the UK Competition and Markets Authority (CMA) having the most extensive powers (including the option to introduce price controls or impose structural divestments).
We have been deeply involved in a large number of market reviews across many jurisdictions and market sectors. In the UK, we have advised main parties on all of the in-depth reviews undertaken by the CMA under the Enterprise and Regulatory Reform Act and on almost all of the inquiries carried out under the preceding Enterprise Act.
When advising clients, our approach is to pre-empt the issues, to help our clients understand the authorities’ concerns, to analyse and address those issues and, if necessary, to design appropriate remedies.
We provide clients with extensive support throughout the investigation process: in responding effectively and efficiently to competition authority information requests, carrying out empirical analysis, helping clients understand and respond to technical analysis carried out by the competition authority, and assisting clients in preparation for interactions with the authority. We also help design and assess potential remedies, aiming to ensure that they are no more intrusive than necessary to achieve the competition authority’s aims.