Welcome to the latest edition of our newsletter, which explores recent competition law and investment screening developments across the UK and EU. 

In this edition, we examine a pair of judgments in high-profile collective proceedings brought before the Competition Appeal Tribunal, as well as the second substantive ruling from the High Court concerning the National Security and Investment Act. Alongside those judgments, we look at the European Commission’s recent fine in the Google AdTech case, new CMA guidance on the application of competition law to recruitment activity, and the latest developments as we approach two years of notifications under the EU foreign subsidies regulation.

Google AdTech case highlights growing politicisation of competition enforcement, but Commission holds firm in issuing landmark fine

In September, the European Commission made headlines by announcing the imposition of a €2.95bn fine against Google for abusing its dominance in the advertising technology sector. We explore the decision and the circumstances in which it was taken, and consider the possible increasing influence of politics in competition enforcement. 
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Rowntree v PRS: unpacking the first collective proceedings strike-out

Over the summer, the Competition Appeal Tribunal struck out and summarily dismissed an application for a collective proceedings order (CPO) brought by Blur drummer, Dave Rowntree, against the Performing Rights Society. In this article, we explore the reasoning behind the Tribunal’s unprecedented decision.

Macfarlanes LLP is acting for PRS in these proceedings. 
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With permission to appeal denied, failure of first UK collective proceedings to reach a full trial highlights challenges for future claimants

Class representative Justin Le Patourel took on the complicated area of unfair pricing in bringing his case against telecoms giant BT. This first collective action to reach full trial resulted in failure for the class representative. With subsequent attempts at appeal now denied, we examine the Court of Appeal’s latest ruling and consider the outcome’s broader implications. 
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Competing for talent: what employers need to know

Following the issuance of its first fines for breaches of competition law in the labour markets, the CMA has published guidance for businesses on this important topic. We examine the guidance and other relevant developments across Europe, highlighting the key takeaways for employers - and the gaps the CMA and other authorities have left unaddressed. 
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Who knew what, and when? High Court ruling in FTDI Holdings reinforces the Government’s wide-ranging NSIA call-in powers

The High Court recently upheld a final order issued under the National Security and Investment Act 2021 (NSIA) requiring a Chinese state-backed company to divest its interest in Future Technology Devices International Limited. The ruling serves to demonstrate the inherent difficulty of overturning NSIA final orders, whilst also clarifying certain procedural aspects of the UK Government’s call-in powers.
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The FSR two years in: filings surge; substantive enforcement and guidance lag

The EU Foreign Subsidies Regulation (FSR) will very shortly have been in full force for two years. With that milestone approaching, the European Commission is seeking both to clarify and review its approach to enforcing the Regulation. We look at those twin processes, whilst also taking stock of the state of FSR enforcement two years in.

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This edition was edited by Senior Associate, Rachel Carter. If you have any questions about the articles in this newsletter, do not hesitate to reach out to Rachel, or any of your usual contacts: Cameron Firth, Malcolm Walton, Christophe Humpe, Caja Griesenbach, Foad Hoseinian and Fiona Beattie.