Friday, July 25, 2008
Posted by D. Daniel Sokol
In an important move, the European Commission has launched a public consultation on a keystone of its antitrust regulation.
According to the press release:
- The European Commission has launched a public consultation on the functioning of the Council Regulation (1/2003) that sets out the rules for the Commission's enforcement of EC Treaty antitrust rules. This Regulation, which took effect on 1 May 2004, also entrusts national competition authorities and courts with the role of applying the EU antitrust rules, meaning that there is wide-spread enforcement of the same set of rules to prosecute cartels and other anti-competitive practices throughout Europe. The Commission is looking for views on all aspects of its implementation in practice. Regulation 1/2003 was the result of the most comprehensive reform of antitrust procedures since 1962. Its key objectives are more effective enforcement of EC antitrust rules in the interests of consumers and businesses, while bringing about a more level playing field and reducing red tape for companies operating in Europe. The Commission will use the results of the consultation to prepare the report on the functioning of Regulation 1/2003, which should be presented to the European Parliament and the Council by 1 May 2009. Interested parties are invited to submit their comments by 30 September 2008.