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OFT’s competition enforcement priorities in changing economic times

OFT’s competition enforcement priorities in changing economic times. Sonya Branch Senior Director, Goods 4 February 2009. Changing times. More than a decade of growth Macroeconomic stability Globalisation High employment Consensus on competition. Recession Short-term fixes

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OFT’s competition enforcement priorities in changing economic times

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  1. OFT’s competition enforcement priorities in changing economic times Sonya Branch Senior Director, Goods 4 February 2009

  2. Changing times More than a decade of growth Macroeconomic stability Globalisation High employment Consensus on competition Recession Short-term fixes Public interest mandate Demand for selective enforcement Need to engage closely with government

  3. Three key aspect of OFT’s landscape • Our current legislative framework sufficient – framed for bad times, as well as good • Good foundations already laid • Global economic crisis needs a global response – same applies in antitrust arena

  4. Guiding aims in OFT’s response Pragmatic/ flexible application of UK competition regime without weakening enforcement stance Better engagement and transparency with business / advisers so increased legal certainty Increased government engagement and advocacy

  5. Pragmatic/ flexible application of UK Pragmatic/ flexible application of UK competition regime without competition regime without weakening enforcement stance weakening enforcement stance Better engagement and transparency, increased Better engagement and transparency with business / advisers so, increased legal certainty legal certainty Increased government Increased government engagement and advocacy engagement and advocacy Flexible but firm • No radical shift in some of key enforcement priorities, but account taken of evolving market conditions • Strong cartel enforcement and merger review • Exclusionary conduct by dominant firms • Market studies • Sectoral focus on financial services

  6. Pragmatic/ flexible application of UK Pragmatic/ flexible application of UK competition regime without competition regime without weakening enforcement stance weakening enforcement stance Better engagement and transparency, increased Better engagement and transparency with business / advisers so, increased legal certainty legal certainty Increased government Increased government engagement and advocacy engagement and advocacy Better engagement and transparency • Certainty around applicable legal framework • Essential to achieve with corporate parties/ their advisers: • Effective dialogue • Better engagement with OFT • Transparency • Speed of response

  7. Pragmatic/ flexible application of UK Pragmatic/ flexible application of UK competition regime without competition regime without weakening enforcement stance weakening enforcement stance Better engagement and transparency, increased Better engagement and transparency with business / advisers so, increased legal certainty legal certainty Increased government Increased government engagement and advocacy engagement and advocacy Advocacy • Act with government to ensure pro-competitive government-sponsored agreements • Restate case for trust in competition and competition enforcement

  8. Conclusion + short-term sacrifice of competitive framework = + effective commitment to competition enforcement =

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