Are you interested in how the UK’s internal market works? The Office for the Internal Market (OIM) is part of the CMA. It independently advises the four governments across the UK on how specific laws, rules and regulations impact the UK internal market and reports on how well it is working. Professor Andreas Stephan, a member of the OIM Panel, has published a blog which discusses findings from the OIM’s recent annual report and how it draws on and uses available data. You can also find out how to register for the OIM’s upcoming workshop, which will bring stakeholders together to discuss how different data sources and techniques for modelling and analysis can offer insights into the functioning of the UK internal market. Read more: https://lnkd.in/eH26rjzm
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Regulatory Affairs Specialist (Medical Devices, Medicinal Products,Food Supplements and Sustainability)
Strengthening the Internal Market: Comprehensive Evaluation of EU Regulation (EU) 2019/515 https://lnkd.in/d-XxTi-y In accordance with the legal requirements set forth by the European Union, the European Commission is undertaking a detailed evaluation of Regulation (EU) 2019/515. This regulation plays a crucial role in the governance of non-harmonised goods within the EU's internal market, aiming to enhance market fluidity and regulatory coherence. Scope of Evaluation: 🔹 Analytical Criteria: The evaluation is structured around five principal criteria: relevance, effectiveness, coherence, efficiency, and EU added value. 🔹 Operational Focus: Key areas of examination include the assessment of legal certainty for businesses and authorities, the efficacy of mutual recognition procedures, the transparency of operational processes, the role and function of product contact points, and the effectiveness of communication and administrative cooperation. Geographical and Temporal Coverage: 🔹 The evaluation spans from April 19, 2020, to the end of the second quarter of 2024, and includes an assessment of the regulation's application across EU Member States, EEA countries, and Turkey. Legal Mandates and Compliance: 🔹 As mandated by Article 14(1) of the regulation, the evaluation necessitates a comprehensive report detailing the effectiveness and impact of the regulation, which will be submitted to the European Parliament, the Council, and the European Economic and Social Committee. Additional Regulatory Considerations: 🔹The evaluation also encompasses an assessment of Implementing Regulation EU 2020/1668, particularly focusing on its implications for the Information and Communication System for Market Surveillance (ICSMS) in the context of mutual recognition. This evaluation represents a pivotal step in ensuring the Regulation (EU) 2019/515 aligns with the EU's broader objectives of streamlining the internal market and removing unnecessary trade barriers. The outcomes will provide critical insights into the regulation’s impact and efficacy. https://lnkd.in/d-XxTi-y #EURegulation #LegalEvaluation #InternalMarket #EUTradeLaw #RegulatoryCompliance
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Chair of The Institute of Hospitality, former Small Business Crown Representative at the Cabinet Office, Managing Partner Traynor Consulting & Training LLP. Highly experienced CEO, Chair, and NED.
The UK’s regulatory landscape is frequently held up as an example of international best practice. However, billions of pounds of regulatory costs have accumulated piecemeal on businesses, with some studies suggesting that the impact of red-tape costs could be as high as 3 to 4% of GDP, or £70 billion in 2023 prices. Government takes action to address this challenge. https://lnkd.in/eDgyZ2yU
Smarter regulation: delivering a regulatory environment for innovation, investment and growth (HTML executive summary)
gov.uk
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Regulation might not be the most exciting topic for everyone, but it's vital for keeping us safe, benefitting the economy and improving our lives. Interesting research from the Institute of Regulation highlighting three key areas which would help improve the effectiveness of regulators.
🔥 🔥 Hot off the press, new research insights from Institute of Regulation - 'Good Regulation. Getting the best from regulation for the benefit of the UK economy and society'. 🔥 🔥 Based on the perceptions of over 150 regulatory professionals and experts, this research uncovered three shared opportunities to drive further improvement in UK regulation: 1. Supporting the conditions for agility and innovation in regulation. 2. Promoting consistency and coherence in legislative frameworks and regulatory mandates. 3. Building trust in regulation. On publication of this research, chair of the Institute of Regulation, Marcial Boo, said: ‘Good regulation is important for the UK. It enables businesses to thrive and innovate and public services to be well run and improve. By creating a level playing field, preventing harm and unfairness with as few unnecessary constraints as possible, regulators not only protect consumers and service users, but enable responsible UK businesses to compete and grow without being undercut by unregulated cowboys. Good regulation is a public good from which everyone benefits. Improving regulation is also a cost-effective way to stimulate economic growth and improve public services. Good regulatory regimes give business confidence that they can invest and build public trust in the goods and services they receive. The Institute of Regulation, the sector's professional body, has drawn on the views of its members to set out what good regulation looks like: as few burdens as possible, a focus on improvement, proportionate interventions when necessary, and the public interest at its heart. The Institute will continue to support the sector to improve, and, with its members, work with the incoming UK government to bring benefit to the economy and public services by helping regulators to make their regulatory regimes as efficient and effective as possible.’ 👏 Thanks to everyone who contributed to this research from across the Institute of Regulation membership. Thanks to the research team, Will Taylor, Matthew Purves and Louisa Dale, with additional research from Paul Peros, Sara Kovach-Clark and @Paul Moore. Finally, our thanks to the excellent research advisory group, Michael Hanton, Matthew Gill, Naomi Nicholson, Victoria Howes 👏 👉 Read more in our latest blog and access the full report online - https://lnkd.in/eAruB6iM 👈
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How can the UK get the best from regulation to grow the economy and benefit society? Some suggestions are in a new research report from the Institute of Regulation. In particular, regulators need to be agile in response to change, and government can help provide consistency and keep regulatory frameworks up to date. This report highlights where good regulation is already in place, and how it can improve. Worth a read.
🔥 🔥 Hot off the press, new research insights from Institute of Regulation - 'Good Regulation. Getting the best from regulation for the benefit of the UK economy and society'. 🔥 🔥 Based on the perceptions of over 150 regulatory professionals and experts, this research uncovered three shared opportunities to drive further improvement in UK regulation: 1. Supporting the conditions for agility and innovation in regulation. 2. Promoting consistency and coherence in legislative frameworks and regulatory mandates. 3. Building trust in regulation. On publication of this research, chair of the Institute of Regulation, Marcial Boo, said: ‘Good regulation is important for the UK. It enables businesses to thrive and innovate and public services to be well run and improve. By creating a level playing field, preventing harm and unfairness with as few unnecessary constraints as possible, regulators not only protect consumers and service users, but enable responsible UK businesses to compete and grow without being undercut by unregulated cowboys. Good regulation is a public good from which everyone benefits. Improving regulation is also a cost-effective way to stimulate economic growth and improve public services. Good regulatory regimes give business confidence that they can invest and build public trust in the goods and services they receive. The Institute of Regulation, the sector's professional body, has drawn on the views of its members to set out what good regulation looks like: as few burdens as possible, a focus on improvement, proportionate interventions when necessary, and the public interest at its heart. The Institute will continue to support the sector to improve, and, with its members, work with the incoming UK government to bring benefit to the economy and public services by helping regulators to make their regulatory regimes as efficient and effective as possible.’ 👏 Thanks to everyone who contributed to this research from across the Institute of Regulation membership. Thanks to the research team, Will Taylor, Matthew Purves and Louisa Dale, with additional research from Paul Peros, Sara Kovach-Clark and @Paul Moore. Finally, our thanks to the excellent research advisory group, Michael Hanton, Matthew Gill, Naomi Nicholson, Victoria Howes 👏 👉 Read more in our latest blog and access the full report online - https://lnkd.in/eAruB6iM 👈
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🌐 **Insights from the UK Competition and Consumer Protection Authority (CMA): Trends Shaping Digital Markets** 📈 In an era where digitalization continually reshapes global economies, staying ahead is pivotal. The CMA, as the UK's principal authority for competition and consumer protection, remains proactive in understanding evolving markets and their implications. The Data, Technology, and Analytics unit alongside the Digital Markets Unit is focused on scanning the digital and technological landscape. 🔍 Our inaugural 'Trends in Digital Markets' report dissects ten pivotal trends set to influence and shape digital markets over the next five years and beyond. These trends were curated through a meticulous horizon scanning process, amalgamating insights from surveys, expert consultations, and extensive scanning of news and reports. Each chapter delves into a trend, combining desk research, expert insights, and evidence gathered during our analysis. 🔮 Some trends may vary in their level of surprise based on expertise, but our aim is to provide intriguing explorations into future scenarios. Many highlighted trends share common themes and challenges, presenting intersecting benefits and implications. For instance, technology convergence intertwines with platform integration and the expansion of tech firms into new markets. 📑 This report doesn't aim to comprehensively cover all digital market trends, given the uncertainties of future developments. It serves as an exploratory insight into potential future scenarios rather than expressing any legal or policy stance. The CMA will further explore these issues and leverage these trends to fortify our understanding of markets and their potential evolution. 🌐 The CMA will actively engage on these trends through various platforms, including the Digital Regulation Cooperation Forum, CMA DaTA Conference, and domestic and international forums. Our horizon scanning efforts will also contribute to shaping the future digital markets regime upon legislative passage. 🔍 Each chapter of the report outlines signals and evidence for the trend, potential future developments, and its projected impact on competition and consumers. #DigitalMarkets #Competition #ConsumerProtection #TrendsAnalysis #FutureOutlook #CMAInsights #DataTechnologyAnalytics #PolicyDevelopment
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Out of market efficiencies? Can they – should they be taken into account? This is an important question that tarnishes competition authorities as they struggle to take sustainability and other non-economic aims into account. Well, there are some hidden paragraphs in a few recent judgments of the Court of Justice of the European Union that pour cold water on this idea. First example: 𝑆𝑒𝑟𝑣𝑖𝑒𝑟 judgment of last week (https://lnkd.in/dgdXYpsR), look for para. 289 – this is about taking countervailing pro-competitive effects into account already in Article 101(1) TFEU: “289. In any event, as noted in paragraph 175 of the present judgment, the Krka licence agreement concerns markets which do not fall within the geographic scope of the infringement of Article 101 TFEU. In those circumstances, any pro-competitive effects that that agreement might have on those markets, even if they exist, would be irrelevant, from a logical standpoint, for the purpose of determining the existence of the infringement found in the present case on Servier’s core markets.” In other words, a restriction in one geographic market cannot be counterbalanced by something good in another geographic market. Second example: 𝐸𝑢𝑟𝑜𝑝𝑒𝑎𝑛 𝑆𝑢𝑝𝑒𝑟𝑙𝑒𝑎𝑔𝑢𝑒 judgment (Grand Chamber) of last December (https://lnkd.in/drUiFUsm), look for paras 193 and 194 – this is about the conditions of Article 101(3) TFEU: “193. As regards the second condition referred to in paragraph 190 of the present judgment, it involves establishing that the efficiency gains made possible by the agreement, decision by an association of undertakings or concerted practice in question have a positive impact 𝑜𝑛 𝑎𝑙𝑙 𝑢𝑠𝑒𝑟𝑠, 𝑏𝑒 𝑡ℎ𝑒𝑦 𝑡𝑟𝑎𝑑𝑒𝑟𝑠, 𝑖𝑛𝑡𝑒𝑟𝑚𝑒𝑑𝑖𝑎𝑡𝑒 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟𝑠 𝑜𝑟 𝑒𝑛𝑑 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟𝑠, 𝑖𝑛 𝑡ℎ𝑒 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑡 𝑠𝑒𝑐𝑡𝑜𝑟𝑠 𝑜𝑟 𝑚𝑎𝑟𝑘𝑒𝑡𝑠 𝑐𝑜𝑛𝑐𝑒𝑟𝑛𝑒𝑑 (see, to that effect, judgments of 23 November 2006, Asnef-Equifax and Administración del Estado, C-238/05, EU:C:2006:734, paragraph 70, and of 11 September 2014, MasterCard and Others v Commission, C-382/12 P, EU:C:2014:2201, paragraphs 236 and 242). 194. It follows that, in a situation such as that at issue in the main proceedings, where the conduct infringing Article 101(1) TFEU is anticompetitive by object, that is to say, it presents a sufficient degree of harm to competition and is such as to affect 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑡 𝑐𝑎𝑡𝑒𝑔𝑜𝑟𝑖𝑒𝑠 𝑜𝑓 𝑢𝑠𝑒𝑟𝑠 𝑜𝑟 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟𝑠, it must be determined whether and, if so, to what extent, that conduct, notwithstanding its harmfulness, has 𝑎 𝑓𝑎𝑣𝑜𝑢𝑟𝑎𝑏𝑙𝑒 𝑖𝑚𝑝𝑎𝑐𝑡 𝑜𝑛 𝑒𝑎𝑐ℎ 𝑜𝑓 𝑡ℎ𝑒𝑚.” In other words, all of the consumers harmed in the affected market must be the recipients of the benefit….
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In our latest post, “SEBI’s Market Rumours Amendment: Assessing Information Symmetry and Market Stability”, written by Shaswat Kashyap and Mahika Suri, the authors analyze recent regulations brought by SEBI. The text primarily aims to address market rumours and places emphasis on maintaining market stability within a global framework. This article applauds SEBI’s efforts while examining the delicate balance between information symmetry and market stability. Comparisons with international regulations underscore the global nature of this challenge. Concerns regarding the amendment’s scope, confidentiality, and disclosure guidelines prompt considerations for future adjustments. Amidst these changes, safeguarding sensitive information remains paramount, even as the amendment aligns with global regulatory trends. https://lnkd.in/d_RgvS-u
SEBI’s Market Rumors Amendment: Assessing Information Symmetry and Market Stability
https://lawreview.mnlumumbai.edu.in
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https://lnkd.in/dgnQTBkr: As competition and consumer bodies in developing states consider how to engage with existing issues and prepare for emerging ones, the UK CMA consultation on the new digital markets regime has been launched. In the CSME, we need to ask ourselves how do we get ready for the new when we are still struggling with our incubatory establishment obligations? Food for thought.
Consultation on new digital markets competition guidance
connect.cma.gov.uk
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"In summary, while maintaining the bottom line of important data and SPI, the new regulations have greatly relaxed the control over the cross-border transfer of non SPI, exempting many common international affairs scenarios from cross-border transfer of PI. This is in line with the spirit of the country's promotion of high-level opening up to the outside world and greater efforts to attract and utilize foreign investment." - It's a clear elaboration on the latest promotion of cross-board data transfor regulation which was released last month.
Regulations on Promoting and Regulating the Cross-border Data Flow | Deloitte China
www2.deloitte.com
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NeoXam featured in A-Team Insight, from A-Team Group: 📈 Despite nearly 50% growth in EU capital markets relative to GDP since 2014, the Council of the EU identifies a notable gap in their development, prompting calls for increased efforts in CMU and wider market regulations. 🔄 The CMU aims to harmonize market rules, enhance transparency, and streamline processes, with ongoing evaluations, including the Packaged Retail and Insurance-based Investment Products (PRIIPS) in 2024. 🤝 Policymakers and market watchdogs are urged to strive for greater alignment to ease the burden on industry participants, fostering a harmonized regulatory environment that prioritizes investor protection without imposing unnecessary burdens. 🌐 The success of these efforts will shape the industry's ability to thrive in a post-Brexit world of evolving regulatory complexities. Read more here: https://lnkd.in/eEzkbUuA #EURegulations #CapitalMarketsUnion #PRIIPS #FinancialIndustry #RegulatoryAlignment #FinancialSoftware 🌍
Banks’ PRIIPS Headache Set to Intensify as Capital Markets Union Regulation Ramps Up - NeoXam
neoxam.com
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