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European Parliament and Council approve of proposed Regulation of European Commission on inter-bank
The European Parliament and the Council decided to approve the proposal drafted by the European Commission on the restriction of inter-bank fees. This draft and approval for a regulation came only a few months after the MasterCard judgment of the European Court of Justice where the ECJ decided that the inter-bank fees are a violation of the EU anti-trust rules. #euantitrustrules #jointventure #mastercard #eucompetitionlaw #eucorporatelaw #turkishlaw #internationallaw
New Turkish Law on E-Commerce has been published - Official Gazette dated 5/11/2014
The Law on E-Commerce Numbered 6563 (the Law) has been published on Official Gazette dated 5/11/2014. It will enter in force on 1/05/2015. Main purpose of the Law is to provide compliance with EU Directive Numbered 2000/31/ EG with regard to the EU Compliance Programme. #euantitrustrules #eucompetitionlaw #eucorporatelaw #eustates #eucompetitionlawyerteam #euturkeycustomsunion
Mergers: The EC cleared the Whirlpool – Indesit acquisition
The European Commission (“EC”) gave clearance to the acquisition of the Italian based Indesit Company S.P.A. by the USA based Whirlpool Corporation. Both companies are important competitors in the market for Major Domestic Appliances (MDA’s), such as refrigerators, freezers and dishwashers. The EC stated that within the European Union there are many alternatives in the market for MDA suppliers, such as Míele and Elextrolux. In addition, the fast- growing Turkish competitor Ar
Updates From the EU Desk: Spanish senate approves Intellectual Property Law reform
The Spanish senate has given the green light to the reform of the country’s Intellectual Property Law, which will now be sent to the Parliament for its final approval. The activities related to intellectual property amount to 4% of the Spanish GDP, a fact that reveals the involvement of a wide range of conflicting interests which has prevented effective solutions from being taken for a long time. The reform aims to curb internet piracy by putting in place a quicker process to
Russian action plan on food security: approved by FAS
Russian action plan on food security approved by FAS The Russian competition authority (FAS) approved an action plan to ensure food security by controlling situation of the food products markets in the Russian Federation. The FAS Russia approved FAS Action Plan to enforce Government Decree No. 778 “On Applying Particular Special Economic Measures to Ensure Security of the Russian Federation” dated 7 August 2014 #eucompetitionlaw #euantitrustrules #eucompetitionlawyerteam #euc
State aid questions: Exemption from property tax for a state-owned company
State aid questions: Exemption from property tax for a state-owned company The Court of Justice of the EU (“ECJ”) ruled on state aid questions referred to the ECJ by a Spanish court in the course of the preliminary ruling procedure. The questions relate to the construction and assessment in light of Article 107(1) of the Treaty on Functioning of the EU (“TFEU”) of a property tax exemption of a plot of land belonging to the state and making it available to a wholly state-owned
European Commission imposed Euro 138 million fine on Smart Card Chips producing companies
The European Commission has imposed a Euro 138 million fine on smart card chips producing companies in September 2014. The companies involved were Infineon, Philips, Samsung and Renesas, a joint venture of Hitachi and Mitsubishi. #eucompetitionlaw #eucompetitionlawyerteam
Competition Authorities Vs Car Parts Makers
For the past five years, competition authorities from the United States, Europe and across Asia have investigated multiple cartels in the car parts market and imposed heavy fines on car parts makers. More investigations are in the pipeline. Car parts makers have colluded for years to inflate parts prices for carmakers, dealers and repair shops in a global market. European Competition Commissioner Joaquin Almunia, who has imposed more than Euro 1 billion in fines against two c
Gazprom Antitrust Investigation
Gazprom Antitrust Investigation – State of Play The EU-Russia tension over crisis in Ukraine has put on hold negotiations of the European Commission with the Russian Federation over antitrust investigation of Gazprom. The discussions over commitments to address the EU’s competition concerns with Gazprom seem to be impossible at this stage, according to EC Commissioner J. Almunia. #antitrust #antitrustrules #competitionlaw #eucompetitionlaw #euantitrustrules #eucompetitionlawy
Multilateral Interchange Fees are prohibited in the EU
Multilateral Interchange Fees are prohibited in the EU – confirmed by the ECJ On 11 September 2014, the Court of Justice of the EU (“ECJ”) ruled that the Multilateral Interchange Fees applied by MasterCard are prohibited, creating a base for lower usage costs for all retailers and consumers within the European Union. The Multilateral Interchange Fees (MIF) are the balancing payments between the bank of a retailer and the bank of a consumer to cover the costs of a card transa
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