INTERVIEW : ANTITRUST - PRATIQUE PRIVEE - AVOCAT GENERAL - COMMISSION EUROPEENNE - FTC

Vanessa TURNER, Visa: From private practice to general counsel via the European Commission and the FTC

1. You have a unique professional background in the European context, having been an antitrust partner in a leading firm in Brussels, Dusseldorf, and London, a senior official in the Competition Cabinet in the European Commission, briefly an adviser to the US FTC, and now the General Counsel of a major financial company. What have been the key challenges of the different roles? What are the key lessons that you have learned from these different experiences?

2. You were a member of Commissioner Neelie Kroes’ Cabinet and one of her closest advisers. What do you consider were the main achievements of Commissioner Kroes’ term of office and why?

3. Visa Europe operates throughout the European Union and interacts with numerous national competition authorities as well as the European Commission in Brussels. Do you have any observations on how well the coordination of cases through the European Competition Network (“ECN”) works in practice?

4. Many of the cases you have been involved in, both in private practice and as a regulator, have involved coordinated enforcement by agencies in Europe and the United States. What do you think are the main differences between the US and EU approaches to antitrust enforcement and how do global companies best handle those differences?

5. The US antitrust system is heavily based on enforcement in court compared with the administrative system that applies in the European Commission and most EU Member States. The European regulators are often criticised for being “prosecutor, judge and jury” in relation to their investigations. Do you think that such criticisms are justified?

6. A number of significant cases currently in the pipeline on both sides of the Atlantic continue to involve the technology sector. Do you think that competition law is well adapted to deal with fast-moving, innovative, markets? Is there more that the agencies could do to improve their approaches to cases in these sectors?

7. The UK has announced a major reform of its competition law enforcement bodies, with the merger of the Office of Fair Trading (“OFT”) and Competition Commission to form the Competition and Markets Authority (“CMA”). You were heavily involved in the UK government’s consultation process on the proposed reforms. What do you think will be the key challenges for the new CMA?

8. One of the UK proposals, that was eventually rejected, was to introduce a more US-style “prosecutorial system” for UK antitrust enforcement. In the end, the government decided to retain the current “administrative model” but to seek to introduce procedural enhancements. Do you think this was a missed opportunity?

9. Both the European Commission and the UK government are very keen to introduce greater private enforcement of competition law in European courts. The UK government, in particular, has recently published reform proposals that may have a radical effect on private enforcement, including class actions, in the UK. Do you agree with this trend? Can you foresee any potential risks?

10. You are one of several high-profile prominent female antitrust lawyers. What have been your key challenges and what advice would you give young women at the start of a career in antitrust today? Do you think that more could be done to encourage women to practice in the field either in the public or private sectors?

Interview conducted by James Aitken, Freshfields Bruckhaus Deringer’s, London.

2010 to present General Counsel and Executive Vice President, Visa Europe, London 2010 Special Advisor for EU Affairs, Federal Trade Commission, Washington DC 2008 to 2010 Member of the Competition Cabinet of Commissioner Neelie Kroes, European Commission, Brussels 1996 to 2008 Partner (2000 to 2008), Freshfields Bruckhaus Deringer, Brussels 1993 Admitted as Solicitor of England and Wales Vanessa Turner, From private practice to general counsel via the European Commission and the FTC: Insights into European and international Antitrust enforcement and policy From private practice to general counsel via the European Commission and the FTC: Insights into European and international Antitrust enforcement and policy 1. You have a unique professional background in the European

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Vanessa Turner, Vanessa TURNER, Visa: From private practice to general counsel via the European Commission and the FTC, September 2012, Concurrences Review N° 3-2012, Art. N° 48137, pp. 7-11

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