Woongsik Dr. Su, MBA’s Post

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.

27 years later… 🕚 The European Commission introduces a substantially revised Market Definition Notice. Key elements of the revised Notice: 🔮 Introducing (for the first time!) non-price parameters: factors like innovation and ecosystems are emphasized, aligning with existing practices 👀 Forward-looking approach: the Notice emphasizes a forward-looking perspective in market definition, especially in dynamic markets undergoing technological or regulatory changes 🧐 Digital market insight: new guidance for digital markets covers multi-sided markets and digital ecosystems, offering a contemporary understanding of these evolving market structures 🤝 Accessible guidance: provided examples and a detailed structure makes it more user-friendly Relevant market is a vital question for every competition lawyer – it serves as the initial step for any competition analysis. 🔍 Mentioned key elements showcase a comprehensive and adaptive approach to understanding and defining markets, reflecting the evolving nature of competition dynamics. Link to more information can be found in the comments section below 👇

In May 2024, the UK Competition and Markets Authority (CMA) published its draft guidance for the digital markets competition regime, as established by the Digital Markets, Competition and Consumers Act (the Act). In response to the public consultation, RBB submitted a reply setting out a number of observations. We acknowledge that the Act has the potential to deliver meaningful benefits to competition in the digital space. Moreover, the CMA’s commitment to adopting an evidence-based approach is welcome. However, implementation is not without risk. It has the potential to impose a significant regulatory burden on firms and to chill competition and innovation, to the detriment of consumers. The draft guidance exacerbates these risks by creating considerable uncertainty as to which firms and activities will be captured by regulation and failing to acknowledge that there is a well-recognised process for assessing substantial market power that can (and should) apply in respect of digital markets. We urge the CMA to provide more clarity, in line with established economic principles, to resolve these issues. Read RBB's response here: https://lnkd.in/evTMujd8 #CompetitionLaw #CompetitionPolicy #DigitalCompetition #RBBEconomics

The European Commission’s recently revised Market Definition Notice confirms the authority’s forward-looking approach to dynamic and innovative #markets and identifies factors relevant for the agency’s assessment of multisided platforms and digital ecosystems. Ingrid Vandenborre  Aleksandar Leshev  Maria Roussi  Fabian Uebele #antitrust #competition #competitionlaw #europe

Compass Lexecon economists Guillaume DUQUESNE, Thibaut de Bernard, Kadambari Prasad, Paul Armstrong and Thomas Bowman co-authored a chapter for Global Competition Review's 2023 Digital Markets Guide. The chapter focuses on the topic of self-preferencing in digital markets and provides an overview of what might be termed self-preferencing conduct, why concerns are more pronounced in digital markets, recent economic insights into the effects of self-preferencing and the treatment by competition agencies. Read the full chapter: https://bit.ly/48gJlP9 #GCR #digitalmarkets #self-preferencing

This open access book offers an informed view from across five jurisdictions, namely the European Union, the United Kingdom, the United States, Latin America, India and China on the issue of competition and regulation in the platform economy. The book is divided into two parts. The first part presents EU-centered regulatory responses to the emerging digital challenges. The EU Digital Markets Act, Digital Services Act, and the Data Act remain the key focus of discussion in part I of the book. While the top stories about antitrust enforcement in digital markets often heard about in media and specialised outlets focus on the European Union, competition agencies in other regions of the world are also pro-actively eyeing the regulation of digital platforms. Though regulatory responses may be slow to come by, the competition authorities in these jurisdictions have played a vital role in regulating competition in these emerging markets. Part II of this book accordingly maps the competition and regulatory responses to the ever-emerging digital challenges by the UK, Latin American, US, Indian, and Chinese regulators.

Last week the Chancellor revealed his Spring Budget which saw no big announcements for the consumer sector. Businesses in the sector continue to deal with falling sales and at times, drastic changes to the world they operate in 📉 In this challenging environment, how can consumer sector businesses evolve to retain a competitive advantage over their sector peers? Browse Mazars in the UK's latest consumer insights to find out the answer to this and more ▶️ http://maza.rs/6041ciBrL #SpringBudget2024 #Consumer #Insights

THE DIGITAL MARKETS ACT: SHAPING THE FUTURE OF DIGITAL COMPETITION IN THE EU This is a key development in the European Union’s digital landscape – the Digital Markets Act (DMA). This groundbreaking legislation aims to create a fair and competitive environment in the digital marketplace, with far-reaching implications for businesses and consumers alike. Find out more in our handy blog post, link below. https://lnkd.in/ezu-kwrY #DigitalMarketsAct

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  

The road to adopting the Digital Markets, Competition and Consumers Act was neither the shortest nor the easiest – but finally to the delight of all (quite heterogeneous) groups of the supporters of a new pro-competition approach to shaping digital markets, the legislation has been passed. One of the most active roles in the entire process has been played by the House of Lords, and one of the most engaged and knowledgeable contributors to the co-legislative process was Lord Clement-Jones. As colleagues know, together with Prof. Rupprecht Podszun, Dr Jasper van den Boom and Sarah Hinck I have a privilege to conduct a comparative research project "Shaping Competition in the Digital Age" (focusing on the EU, Germany and the UK). Among various activities, we also have a blog offering original specialised content focusing on the substance of the reforms within the Digital Markets Act; Gesetz gegen Wettbewerbsbeschränkungen; and the Digital Markets, Competition and Consumers Act regimes. Within this research initiative, I just had a pleasure to ask Lord Clement-Jones some questions related to the adoption, implementation, juristic elegance and also eventual pitfalls of the new UK legislation. 💬 https://lnkd.in/eMns3teQ The answers are really informative and thought-provoking. I hope –and I'm sure – those interested in a real comparative analysis, looking at the new law beyond headlines and beyond their own business models, will find these answers really inspirational. We have published already quite a few carefully prepared posts and have much more in the pipeline (and we soon will be expanding our research team), so we invite all interested in the evolution and comparative analysis of these new regimes to subscribe to our newsletter. https://scidaproject.com/ Tim Clement-Jones Rupprecht Podszun Jasper van den Boom Sarah Hinck