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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 | December 2017
On December 21, 2017, a “Constitutional Law” was enacted by the National Constituent Assembly that created the sanctioning tax unit, as published in Official Gazette No. 41,305.
The sanctioning tax unit shall be used exclusively for the purposes of establishing the value of those penalties (fines) set forth in the relevant legal instruments that are calculated in tax units.
The Executive Branch must establish the value of the sanctioning tax unit and adjust it each year at the beginning of February in accordance with the variation in the consumer price index of the Caracas Metropolitan Area of the immediate previous year, after hearing the opinion of the ministry in charge of citizen security, the Supreme Court of Justice and the Citizens' Branch.
The Executive Branch will still adjust the value of the ordinary tax unit on the same date.
The “Constitutional Law” on the creation of the sanctioning tax unit entered into force after being published in the Official Gazette, namely, after December 21, 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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