Thursday, January 5, 2012
Posted by D. Daniel Sokol
Niko Hukkinen and Laura Peltonen (Niko Hukkinen) discuss For the Better: The Reform of the Finnish Competition Act.
ABSTRACT: After prolonged preparation and several delays, a new Finnish Competition Act finally entered into force on 1 November 2011. The main purpose of the reform is to add coherence to the Finnish competition rules after sev-eral partial amendments over the years, as well as to further harmonize the legislation with the EU laws. The new substantive amendments include the harmonization of the concept of undertaking with the definition developed in the case law of the European Court of Justice as well as the introduction of the SIEC-test as the applicable intervention test for concentrations. In addition, several procedural changes have been introduced in relation to e.g. investigatory powers of the authority, sanctions and the merger control process.