Expert legal advice from The Competition Lawyers

Financial Price Fixing – a look back at the 2003 ABN Amro Scandal

First published by Author on November 25, 2016 in the following categories: Latest

green heating and insulation

In 2003, the London office of the investment bank and security trading group based in the Netherlands, ABN Amro, received a fine of £900,000.00 for helping a US client to rig share prices.

The Financial Services Authority (who are now the Competition and Markets Authority) imposed the £900,000.00 fine after discovering that the Dutch investment bank had allowed for the prices of the US companies shares to be increased. This reportedly happened on three separate occasions over a six month period between April and October 1998.
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Construction companies cover pricing case in 2008

First published by Admin on November 21, 2016 in the following categories: Latest and tagged with

green heating and insulation

Our Competition Lawyers take a look back at this huge cover pricing case from 2008.

In 2008 the Office of Fair Trading named 112 construction companies who they believed had been engaging in cover pricing. Cover pricing is where artificially high bids for contracts are made with no intention to win the bid, therefore increasing the final bid price by distorting the look of the competition.

Construction companies involved in this case were found to have worked together illegally to increase the cost of a large number of contracts, including bids for the developments and extensions of schools, universities, and hospitals.

i.e. – public sector ventures, meaning taxpayers money was used to fund these projects!
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“Is the cleaning services sector lacking a competitive edge?” Alleged anti-competitive agreements in the industry may be an infringement of the Competition Act

First published by Author on November 17, 2016 in the following categories: Latest and tagged with

The cleaning services sector is the next sector to receive the limelight and an investigation from the UK’s Competition Markets Authority (CMA).

In March this year, the CMA launched an investigation into alleged agreements following allegations that the sector were involved in anti-competitive arrangements, which claimed an infringement on the Competition Act 1998.

These are very serious allegations.
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“Energy Markets Competition Remedies” – Competition and Markets Authority’s investigation has led to a positive outcome for healthy competition in the energy market

First published by Author on November 14, 2016 in the following categories: Latest and tagged with

The Competition and Markets Authority (CMA) has been investigating the supply and acquisition of energy in Great Britain. The two year investigation was sparked when the CMA became concerned with competition in the energy markets, and the pricing for domestic and micro business customers (micro businesses defined as with fewer than 10 employees.)
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“CMA’s Energy Price Comparison investigation given the red light” – The investigation into companies agreeing not to bid for the same search terms has closed, says the CMA

First published by Admin on November 11, 2016 in the following categories: Latest and tagged with

Back in October last year, the Competition Markets Authority (CMA) initiated an investigation into energy price comparison websites as a result of suspected anti-competitive behaviour.

Now, the CMA has decided to close the case on ‘administrative priority grounds’.
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“Are you sure you’re getting the best deal?” – CMA launches study into Digital Comparison Tools

First published by Admin on November 04, 2016 in the following categories: Latest

The UK’s Competition and Markets Authority (CMA) recently launched a study into Digital Comparison Tools.

Their concerns are centred on how the tools can limit competition through an alleged lack of transparency and lack of information they give to their consumers. The CMA will specifically review the private motor insurance, energy, and banking sectors.
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“A Monopoly between Britain’s largest Adult Gaming companies” – CMA investigates the merger of Novomatic and Talarius

First published by Author on October 24, 2016 in the following categories: Mergers and tagged with

In early September, the CMA announced an investigation into the merger between Australian gambling operator, Tatts, and Austrian Gaming Giants, Novomatic. The merger came when Talarius U.K. (subsidiary company of Tatts) failed to reach their targeted profits and sold on their U.K. division to Novomatic on 24 June for £116 million.

The merger could be seen as ‘fishy’ as both companies are seen as big players in the British Adult Gaming industry, with Talarius machines operating in approximately 170 venues across the U.K.
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UK Opioid medication company sued by 36 U.S. States for anticompetitive conduct

First published by Author on October 14, 2016 in the following categories: Latest

A UK based producer of opioids, Indivior Plc, is being sued in America by 36 States for alleged anticompetitive behaviour.

The medication they produce – Suboxone – is used to treat addictions to heroine and pain killers, which are reported as growing problems in America, according to news sources.

They are alleged to have blocked access to cheaper alternatives of their medication, forcing users to pay the higher prices they enforce.
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Dentsu overcharging scandal

First published by Author on October 03, 2016 in the following categories: Latest

Japanese digital advertising giants Dentsu have acknowledged and apologised for overcharging hundreds of companies using their services for online advertising.

Dentsu Inc have reportedly overcharged 111 companies, which has been seen as a surprise given that the company is renowned for having a far reach across Japan as well as being known for avoiding the headlines for the wrong reasons.

The Dentsu overcharging scandal may have unfortunately cast the company in a very different light though.
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European Commission fines Altstoff Recycling Austria (ARA) 6m Euros for competition hindrance

First published by Author on September 22, 2016 in the following categories: Latest

green heating and insulation

The EU Commission has fined Altstoff Recycling Austria (ARA) 6m Euros for reportedly blocking competitors from entering the market in Austria for household packaging waste services.

The investigation found that they hindered competition between 2008 and 2012 and have been found in breach of EU antitrust legislation – which is essentially competition rules and regulations on the continent.

It’s a huge fine from what is a serious breach of the rules; although the fine has been reduced by 30% for the company’s cooperation with the Commission’s investigations.
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