Towards The Global Securities Market, Particularly In Europe

On 3 September 2026 the EU Commission published its long-awaited Guidelines on the application of Article 102 TFEU to abusive exclusionary conduct by dominant undertakings (Guidelines)...

France has substantially increased its merger control notification thresholds, marking the first major reform in over two decades. The new thresholds, which take effect September 1, 2026...

France is set to significantly raise the turnover thresholds that trigger mandatory pre-merger notification to the French Competition Authority, marking the first increase in general thresholds since 2004. The reform, adopted through the French Economic Life Simplification Bill in April 2026, amends Article L. 430-2 of the French Commercial Code and awaits final promulgation before entering into force in September or October 2026.

The European Commission has cleared the Airbus/Air France joint venture in a landmark decision that marks the first time efficiency claims were assessed during Phase I merger review. While the transaction was ultimately approved without relying on these efficiencies due to lack of competitive concerns, the Commission's willingness to examine cost synergies, logistics benefits, and consumer advantages signals a potentially more receptive approach to efficiency arguments in future merger cases.

The European Commission has adopted comprehensive Guidelines on exclusionary conduct under Article 102 TFEU, modernizing the framework for assessing abuses of dominant market positions. These Guidelines consolidate decisional practice and case law while introducing expanded approaches to objective justifications, including sustainability benefits and public interest considerations. How will these new principles reshape competition enforcement in technology markets and beyond?

The European Commission has intensified its investigation into alleged price coordination within the construction chemicals sector across France, Germany, and Spain. Following unannounced inspections in October 2023...

On September 24, 2024, the Criminal Division of the Cour de Cassation ("Court of Cassation") issued a noteworthy ruling on the enforceability of attorney-client privilege in the event...

On 20 March 2012, the French Competition Authority imposed fines totalling € 35.32 million on three leading pet food manufacturers: Nestlé Purina Petcare France SAS, Royal Canin SAS and Hill's Pet Nutrition SNC.

The recent takeover battle between Netflix and Paramount Skydance for the acquisition of Warner Bros. Discovery (WBD) is noteworthy in several respects...

The French Competition Authority has opened a public consultation to evaluate its two-year-old informal guidance framework that helps organizations determine whether their sustainability initiatives comply with competition law. Since its introduction in May 2024, the framework has issued five guidance letters covering diverse environmental projects, from carbon footprint platforms to retail sector sustainability commitments.