Regulators and courts in common law jurisdictions around the world are being given significant and increasing powers to impose financial penalties without traditional criminal law safeguards. Competition law has been particularly susceptible to arguments that traditional safeguards should be discarded to aid regulators in securing convictions. In the first competition case to go to trial in Hong Kong, the Competition Tribunal held in 2019 that in competition proceedings seeking financial penalties, the authority had the burden to prove its case beyond reasonable doubt. This article considers the approach taken in other common law jurisdictions and scope to argue for increased safeguards and human rights protections for clients facing financial penalties.
The article aims to provide an overview of Hong Kong’s merger control regime, which is voluntary in nature and – substantively speaking – only applies to mergers involving a telecommunications carrier licensee, as well as other strategic considerations at early stages of transactions.
The Annual Compliance Conference begins next week and attracts over 6,000 in-house senior legal and compliance professionals from across the world. This leading compliance conference will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments:
• corruption and economic crime
• customs and FTAs
• ESG, supply chain and product compliance
• antitrust and competition
• export controls, sanctions and foreign investment
Click here to view the full agenda and register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.
In this regional update, Baker McKenzie partners provide you with a practical overview of the most notable antitrust legal developments of quarter 2 in 2022 that may affect your business.
The fourth instalment of Baker McKenzie’s TMT Looking Ahead delves into 5G, which, with its high speed, ultra-low latency and ability to simultaneously connect multiple devices, continues to drive global business opportunities. 5G use cases are increasingly popular in all levels of infrastructure and across industries and, as such, continue to attract the scrutiny of governments and regulators. In this episode of TMT Talk, Raffaele Giarda, Stephen Crosswell, and Mackenzie Martin discuss the evolving regulatory landscape that applies to 5G, with a particular focus on antitrust and patents.
This piece was originally published on Practical Law and is republished with the permission of the publishers.
The principal competition legislation in Hong Kong is the Competition Ordinance (Cap 619) which came into full effect on 14 December 2015. The Competition Ordinance prohibits businesses (undertakings) from entering into agreements with other undertakings that prevent, restrict or distort competition in Hong Kong. It also prohibits businesses with a significant degree of market power from abusing their market power in a way which prevents, restricts or distorts competition in Hong Kong.
Annual Compliance Conference
Our popular Annual Compliance Conference, which attracts over 6,000 in-house senior legal and compliance professionals from across the world, will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments across:
– corruption and economic crime
– customs and FTAs
– ESG, supply chain and product compliance
– antitrust and competition
– export controls, sanctions and foreign investment
Click https://www.bakermckenzie.com/en/insight/events/2022/10/annual-compliance-conference to register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.
On 24 June 2022, China’s National Peoples’ Congress approved far reaching amendments to China’s Anti-Monopoly Law which become effective from 1 August 2022 (“AML Amendments”).
Alongside the AML Amendments, the State Administration for Market Regulation has issued for public comment proposed updates to key implementing rules and regulations concerning cartels and vertical restraints, abuse of dominance, merger control and abuse of IP rights.
Of particular relevance to business operations in China and M&A activity, the AML Amendments include stricter penalties for antitrust violations; increased enforcement powers; revised thresholds for merger control; an express prohibition of hub & spoke arrangements; potential exemptions/defenses for certain vertical restraints including resale price maintenance, and continued scrutiny of the platform economy.
Our team of over 300 antitrust experts around the world have collaborated to produce a truly innovative Global Merger Analysis Platform (GMAP). GMAP answers 90 detailed questions on merger control law in 120 jurisdictions. It is updated in real time, offering more depth and more legal certainty than existing products in the market.
On 24 June 2022, China’s National People’s Congress approved far reaching amendments to China’s Anti-Monopoly Law which will become effective from 1 August 2022 (“AML Amendments”).
Alongside the AML Amendments, China’s competition regulator has published revised draft guidelines on a wide range of topics for public consultation. This reform package will have significant consequences for the future of merger control and antitrust enforcement in China.
Baker McKenzie is delighted to invite you to join us on 21 July 2022 for a webinar via Zoom, where our Baker McKenzie antitrust and competition specialists in Beijing and Hong Kong will provide you with a concise briefing on key considerations with respect to these reforms and practical implications for your business.