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Administrative Council for Economic Defense (CADE) Office of Consumer Protection and Defense, Ministry of Justice. Renato Duarte Franco de Moraes Under that regime, firms involved in M&A operations above a certain threshold were obliged to notify said operation to the competition authority, before or up to one week after the closing of the operation. set industry standards with no technical support. She has been a graduate and undergraduate professor of microeconomics, industrial organisation and contract theory at the Torcuato Di Tella University, the HEC School of Management, the University of Wisconsin-Madison, the University of San Andrs and the University of Buenos Aires. if the failing firms exit will generate a greater harm to consumers than its acquisition by a competitor. 6 CNDC, General Guidelines for Market Studies, approved through CNDC Disposition 8, dated 6 March 2020, available at www.argentina.gob.ar/sites/default/files/lineamientos_generales_para_estudios_de_mercado.pdf. Keep a step ahead of your key competitors and benchmark against them. the Argentinian competition authority, prospective merging parties -be it national or foreign investors-, consumers in the potentially affected markets, and the society at large) that Argentina abandons its slow, inefficient, and discretionary post-closing merger control regime and . In terms of enforcement activities, between 2016 and 2019, Argentina fined three cartels and opened several ex officio cartel investigations. This is an extract from the 2021 edition of theAmericas Antitrust Reviewpublished by Global Competition Review. In addition, the CNDC submitted a first draft for public consultation in July 2017 and, as a consequence, received comments from many different institutions that contributed to improving the draft. National Commission for the Defence of Competition. Ex-Citibank Exec Can't Target Argentine Unit Over $9.5M Case. Found inside Page 112It should be a priority to complement the recent advances in competition enforcement, where the establishment of a new competition authority with greater William DeVinney Specifically, each position will be covered after a public contest conducted before a jury composed of the Federal Government Attorney, the Ministry of Production, a representative of the National Academy of Law and a representative of the Argentine Association of Political Economy. Taking into account the comments received, the CNDC has proposed a new draft regulation, which is now being reviewed by the Secretary of Domestic Commerce, the enforcement authority in the transition period. In addition to practising law, he has exercised functional and professional responsibilities in the government of the City of Buenos Aires, the Ministry of National Security, the General Inspectorate of Justice and the National Securities Commission. Independence of competition authorities - from designs to practices, 2016 Competition Authority. This would be the case, for example, if the association shares information about prices, production levels or sales that the members then use to devise a collusion agreement. Among the dos, the CNDC recommends that the associations: On the other hand, among the donts recommended by the CNDC, associations should not: Finally, in terms of information sharing, the guidelines provide criteria to determine whether it is safe to share a particular piece of information. UNCTAD, the Competition Authority of Argentina and SELA organize the Third Annual Meeting of the Working Group on Trade and Competition 24 - 25 septiembre 2013 Hotel 725 Continental With 592 units sold in February, the Chevrolet Tracker became Argentina's best-selling utility vehicle, moving ahead of its Nissan, Honda and Volkswagen rivals. Cascione Pulino Boulos Advogados, Claudio Donato Monge, Moreover, Argentina has accumulated a great deal of jurisprudence whose systematisation could be useful to lawyers and future merging parties. Botswana. The General Authority for Competition (GAC) imposed on Jan. 14, a fine of SR3 million ($800,000) on National Gas and Industrialization Co. (GASCO), as the company abused its dominant position, the . The implementation of the recommendations and the increased awareness of the negative impact of bid rigging, together with the effective enforcement of the competition law by Argentina's competition authority, will help Argentina fight bid rigging in public works and . Although some of the changes have had an immediate implementation (such as the increase in fines and notification thresholds), other modifications require additional measures to become effective. In addition to the four new guidelines discussed in this article, the CNDC has two additional projects in the pipeline: a document providing guidance on M&A notification and exceptions to notification; and a document explaining how the CNDC carries out market investigations and what is to be expected from those procedures. To view all formatting for this article (eg, tables, footnotes), please access the original, Market definition in merger and abuse of dominance cases. 6 This way, an operation would be notifiable under the old competition law if the total turnover of the affected companies were above 200 million Argentine pesos. The list of applicants was published on 14 June and can be found at www.argentina.gob.ar/convocatoria-abierta-autoridad-nacional-de-la-competencia. She worked in several economic sectors, such as electricity, ports, oil and gas, steel, waste management, and food and beverages. These guidelines relate to business associations or groups of companies or individuals with a common economic interest. . Kristen OShaughnessy The greatest concerns regarding the behaviour of these associations relates to information sharing, price-fixing agreements, market allocation and bid rigging. In implementing a pre-merger control system, Argentina must speed up the process substantially. Luca Quesada The office typically in charge of placing young workers was called the defensor de menores , a public institution dating back to the colonial period. the COMPAL Programme participating in this report: Argentina, Chile, Ecuador, El Salvador and Peru. The publication of the seven shortlists is scheduled for 28 August 2019, following which interim appointments are expected to be defined. On the one hand, the guidelines make explicit reference to the possibility of using quantitative indicators such as the dominance threshold to assess the potential creation or strengthening of a dominant position or the upward pricing pressure index to assess the potential price effects of a merger in markets with differentiated products. Improvements in this area can be shown using different indicators. : Cultivating Islamic Communities in Indonesia. The Italian Competition Authority can request in writing from any individual, undertaking or entity any information or documents in its possession that may be relevant to an investigation. In this regard, especially two points have aroused curiosity: (i) what would be the competitive concerns that may arise . Maria Eugnia Novis and . The new competition law (Act 27,442 (the LDC)) was passed on 9 May 2018, enacted on 15 May 2018 and entered into force on 24 May 2018, the same day the Executive issued its Regulatory Decree 480/2018 (the Decree). This would be the case, for example, if the association shares information about prices, production levels or sales that the members then use to devise a collusion agreement. According to section 84, this ex ante system will enter into force one year after the ANC is in operation. Predictability is a fundamental asset for competition authorities because it provides clarity and reduces uncertainty on how the law will be enforced. As a first step, the guidelines list the conditions that a practice must satisfy to constitute an abuse of dominance in Argentina, which include: (i) the company must hold a dominant position in a relevant market in Argentina; (ii) the conduct must constitute an abuse of that dominant position; and (iii) the conduct must produce harm to the general economic interest. The proposal may consist of: In addition to the general objectives stated above, the guidelines also establish specific objectives that would contribute to the framework of analysis, such as: As for the methodology for analysis, the guidelines are based on international best practices to produce evidence of the competitive conditions that prevail in the sector under analysis. In March 2020, the CNDC approved guidelines for market studies that the CNDC may commission to external consultants.6 The purpose of the guidelines is to set a framework of analysis and a quality standard that will regulate the relationship between the CNDC and the external consultants. In the framework of the global pandemic caused by SARS-CoV-2, and given both the decrease of cases and the increase of vaccination in Argentina, through Decree 494/2021, the National Government has established new preventive measures applicable between 7 August and 1 October 2021, inclusive, attuned to those that were last implemented by means of Decree 413/2021. Found inside Page 209Argentina and Chile conduct ex ante merger controls. On the contrary, and with the exception of one sector (electricity) the competition authority does not 3 of 2005 and its Executive Regulation. Hence, the guidelines are based on the CNDCs experience in investigating abuse of dominance cases since its creation in 1980, as well as similar guidelines in other jurisdictions. Up to that moment, the notification regime as established by Act 25,156 continues to hold. As this was not the object and purpose of the LDC, the thresholds not only needed to be updated, but also needed an automatic updating system to avoid this same problem arising in the future. In this week's post, we examine the investigation launched by the Polish Competition Authority into alleged collusive conduct of the men's . Howard Morse and UNCTAD, the Competition Authority of Argentina and SELA organize the Third Annual Meeting of the Working Group on Trade and Competition 24 - 25 septembre 2013 Hotel 725 Continental Found insideCompetition Laws' and the 'Understanding on Cooperation among the Competition of Argentina on the cooperation between their competition authorities Since the beginning of the current administration, the government . Found inside Page 10127.442 creates the National Competition Authority, a decentralised and Relevant practices on ex ante assessment adopted in Argentina A number of In November 2001, following international trends, Argentina's competition authority issued its first guidelines for merger control. Sections 60 and 61 of the LDC set up a leniency programme for cartel cases in Argentina. In fact, by the end of 2015, the average time of analysis for M&A matters was 3.2 years. June 22, 2021. The guidelines explain that a high market share for a sufficiently long period of time is a necessary, although not sufficient, condition for the existence of a dominant position. Because a dominant position must be defined relative to a relevant market, the market definition section of the merger guidelines is valid to define markets in abuse of dominance cases. Competition guidelines for business and professional associations. regulatory changes, when the study finds one or several pieces of regulation that distort competition in the market; changes in how one or several market participants behave or conduct business; or. On the other hand, guidelines may also be used to clarify how the authority will enforce competition law and the criteria that it will use to analyse a particular case. Jacqueline Grise, In addition, only 11 per cent of the operations notified in 2016 were resolved in that same year. a fine exemption to the first firm that reveals having participated in a cartel (with the obligation to cooperate by providing determining proof of the existence of the cartel); a fine reduction of between 20 per cent and 50 per cent for subsequent applicants, provided that they bring to the authority additional information to prove the existence of the cartel; and. One important innovation of the updated guidelines concerns the possible theories of harm that the CNDC may consider when an M&A operation is analysed. In addition, the difference between the firms market share and that of its largest competitor is also relevant, since the smaller the difference, the lower the likelihood of a dominant position being held. The updated guidelines state that not all merger cases will require a market definition. National Director of Competition Advocacy, Alexandre Barreto de Souza The main goals of these workshops was to raise awareness among procurement officers of the potential collusion problem in public procurement, to promote the adoption of best practices for fighting collusion in public procurement and to encourage procurement officers to report any collusion suspicions to the competition authority. The thresholds were frozen between 1999 and 2018 in the local currency (Argentine pesos). This book looks at the evidence and assesses the impact of competition among governments to attract FDI. It finds little evidence directly to support fears of a "global race to the bottom" in labour and environmental standards. NEW COMPETITION ACT - CURRENTLY UNDERGOING A TRANSITION PHASE (CONTINUED) Nathan Brenner Moreover, Argentina has accumulated a great deal of jurisprudence whose systematisation could be useful to lawyers and future merging parties. In addition to the four new guidelines discussed in this article, the CNDC has two additional projects in the pipeline: a document providing guidance on M&A notification and exceptions to notification; and a document explaining how the CNDC carries out market investigations and what is to be expected from those procedures. In this sense, efficiencies may be a reasonable justification for a particular practice. She has authored several publications related to competition and regulation, including papers on certification intermediaries, reputation as a collusion deterrent, petroleum contracts and contract renegotiations. ", Copyright 2006 - 2021 Law Business Research. Each of these elements is explained in the document, to provide guidance on how the CNDC interprets them. Jeanne-Michele Mariani Found inside Page 549In Argentina, removal can be based upon a failure to meet the obligations of a member of the competition authority. The procedure for removal varies from Heather McDevitt, Kyle Donnelly Spanish Competition Authority (Madrid) Spain 12 contributions 8829 visits. For vertical mergers, the guidelines explain that if market shares of both the merging firms are below 30 per cent, or if the HHI is below 3,000 points in both vertically related markets, the operation is unlikely to raise competition concerns. Council for Protection of Consumers. With this in mind, the National Commission for the Defence of Competition (CNDC), jointly with legislators of the official party, drafted a new competition bill during the second half of 2016. The Turkish Competition Authority ("the Authority") published an announcement on its official website on 06 March 2021 informing the public of the Turkish Competition Board's (the Board) decision dated 21 January 2021 to launch an inquiry into the online advertising sector to address and develop solutions for behavioral and structural competition concerns. Ismail Fajrie Alatas. Marco Lpez Volio and According to the guidelines, for a dominant firms practice to be illegal, it must have the potential of damaging the general economic interest. Concerning thresholds, the new law has established updated and adjustable thresholds for notification of M&A matters. Nancy Hamzo and competition authority on possible manipulations of the procurement process. Look Inside. Global Competition Review covers the most crucial developments in competition law and enforcementworldwide with breaking news commentary and analysis five days a week, as well as original in-depth reports, interviews and features on antitrust enforcement worldwide. On the one hand, they may be used to explain to the private sector how the authority interprets certain aspects of the law and what the private sector can do to comply with competition law. Eva Warden Derived from Kluwers multi-volume Corporate Acquisitions and Mergers, the largest and most detailed database of M&A know-how available anywhere in the world, this work by a highly experienced partner in the leading international law firm The CCA is responsible for the prevention of, and redress for anti-competitive practices in the economy, and the removal . The new regulatory framework was designed following Argentinas reality and experience, as well as international antitrust trends and developments. This implies assessing the likely effect of the practice on consumers, either directly through higher prices, lower variety or lower quality, or indirectly through lower innovation. Head of the Technical Secretariat of the Commission for the Defence of Free Competition, Get unlimited access to all Global Competition Review content, Company Number: 03281866 VAT: GB 160 7529 10, National Director of Competition Advocacy, www.argentina.gob.ar/sites/default/files/gestion_cndc_2016-2018.pdf, Trial Attorney, Washington Criminal 1 Section, United States: Private Antitrust Litigation, Brazil: Administrative Council for Economic Defence, Mexico: Federal Economic Competition Commission, Panama: Authority of Consumer Protection and Competition Defence, Head of the Technical Secretariat of the Commission for the Defence of Free Competition. As a first step, on 6 July 2018, the CNDC submitted for public consultation a draft regulation for the implementation of the leniency programme. To update its merger guidelines, the CNDC reviewed both the provisions included in merger guidelines of other jurisdictions and the main criteria used in its own jurisprudence throughout the years, with the purpose of identifying those elements that were missing from Argentinas 2001 guidelines. 3 The workshops have already shown some interesting results. Wilson Sonsini Goodrich & Rosati, Andrew Eklund, In May 2019, the CNDC published its first guidelines for the analysis of cases of exclusionary abuse of dominance.5 The document provides guidelines regarding practices that may constitute abuse of dominant position as understood by Argentine competition law. 4. If the answer is yes, the practice would not be considered illegal. The implementation of the recommendations and the increased awareness of the negative impact of bid rigging, together with the effective enforcement of the competition law by Argentina's competition authority, will help Argentina fight bid rigging in public works and . Lionel Messi finally tastes success in international football as Argentina beat Brazil 1-0 in the final of Copa America 2021 to win an international trophy after a gap of 28 years. The law also establishes a marker system to determine the order of priority of the leniency applications; and obliges the applicant to cease immediately the illicit conduct, cooperate continuously and diligently with the Competition Tribunal, and keep the application confidential (except with regard to other competition agencies), and forbids the applicant to destroy, falsify or hide evidence of the cartel. Series: Princeton Studies in Muslim Politics. Merger control was introduced in Argentina in September 1999, with the enactment of Act 25,156. Argentina's Competition Authority partnered with the OECD to step up its fight against bid rigging and boost competition for public works. Finally, the guidelines for market studies establish the objectives and methodology that external consultants should follow for market studies commissioned by the CNDC. The sectoral regulatory is ex-ante that means it addresses the behavioural issues even before the problem arises. This is in force until October 31, 2020. With regard to the existence of a dominant position, article 5 of Argentinas Competition Law states that a firm holds a dominant position in a market when it is the only supplier or purchaser in that market or, if not the only one, it is not subject to substantial competition. 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