The U.K. Competition and Markets Authority (CMA) has published “Guidance on the Functions of the CMA Under the Withdrawal Agreement” (Guidance), which sets out the regulator’s approach to merger and competition cases during the Brexit transition period that will run until at least through December 31, 2020 (Transition Period): The Guidance confirms that during the Transition Period, the U.K. and the EU merger procedures will remain closely aligned. The EU competition and merger control rules will continue to apply as if the U.K. were still an EU member state. The European Commission (EC) will have exclusive jurisdiction over mergers notified to or investigations initiated by the EC during the Transition Period. Merging parties should consider the potential for parallel U.K. jurisdiction
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The UK Competition Authority publishes its guidance on its functions under the withdrawal agreement setting out the regulator’s approach during the Brexit transition period
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