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Let's talk antitrust: Discussing recent cases and emerging competition issues
Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Global | Publication | September 8, 2017
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On September 1, 2017, the European Securities and Market Authority (ESMA) published an updated version of its Market Abuse Regulation (MAR) Q&As.
ESMA has added a new Q&A on market soundings and two new Q&As on insider lists:
In addition Q&A 6.1, which considers the requirement in Article 16(2) of MAR for persons professionally arranging transactions to maintain systems and procedures to detect and report suspicious orders and transactions, has been amended in order to clarify the scope of Article 16 of MAR (Prevention and detection of market abuse).
On September 4, 2017 the Investment Association (IA) reported that its call for companies to stop quarterly reporting is being heeded, with the number of FTSE100 and 250 companies issuing quarterly reports since October 2016 declining by 19 and 25 per cent, respectively.
In a bid to discourage companies from engaging in short-term behaviour, such as managing the business to meet quarterly targets rather than developing their long term strategies, in November 2016 the IA called on companies to stop issuing quarterly reports and earnings guidance.
A table included in the IA’s press release shows that in October 2016 a total of 70 FTSE100 companies reported quarterly, but only 57 did so by August 2017. Meanwhile 111 FTSE250 companies reported quarterly in October 2016, compared with 83 in August 2017.
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Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Publication
After a lacklustre finish to 2022 when compared to the vintage year for M&A that was 2021, dealmakers expected 2023 to see the market continue to cool in most sectors, in response to the economic headwinds of rising inflation (with its corresponding impact on financing costs), declining market valuations, tightening regulatory scrutiny and increasing geopolitical tensions.
Publication
On 18 September 2023, the CMA published its Initial Report (Initial Report) on AI Foundation Models (FM), supplemented in April 2024 with the publication of its “Update Paper” focused on potential antitrust risks associated with FMs and a “Technical Update Report” providing more detail on the development on FMs (collectively the “Reports”). Below, we consider these CMA publications.
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