In this issue:

The Brussels Summit and European Competition Law

Antonio Bavasso, Jun 26, 2007

An Unfortunate Turn for Europe

As the curtain closes on the Brussels summit it is time to reflect on the implications of the removal of the reference to “free and undistorted” competition from the Union’s objectives.

Credit Suisse: U.S. Antitrust Law and Securities Regulation

Mar 29, 2007

Background on: Credit Suisse v. Billing

The issue before the Supreme Court in Credit Suisse is what constitutes the approporiate standard for implying antitrust immunity in the context of the potential conflict with federal securities laws.

Keith Sharfman, Jun 29, 2007

Credit Suisse, Regulatory Immunity, and the Shrinking Scope of Antitrust

Credit Suisse has important implications for antitrust practice. The decision’s effect is to narrow the scope of antitrust law and to invite efforts by regulated industries to narrow it still further.

Svetlana Gans, Connie Robinson, Jun 29, 2007

Has the Supreme Court Given Regulated Industries Implied Immunity from the U.S. Antitrust Laws?

This decision follows an established line of Supreme Court precedent finding antitrust immunity when there is a clear regulatory structure and active supervision of conduct at the heart of the industry.

Payal Shah, Claire Webb, Alan Weinschel, Jun 29, 2007

Supreme Court Rules That Antitrust Claims Relating To IPO Underwriting Conduct Are Precluded By The Securities Regulatory Regime

In Credit Suisse Securities (USA) LLC v. Billing et al., No. 05-1157, 2007 WL 1730141 (U.S., June 18, 2007), the Supreme Court limited the ability of plaintiffs to bring antitrust claims for conduct that is regulated under the securities laws. On

The European Commission’s Draft Notice on Remedies

Carsten Grave, Jun 29, 2007

The Burden of Proof in the European Commission’s Draft Notice on Remedies

Without stating that it would be the most important, or even most interesting, topic touched upon by the Draft Remedies Notice, this article will focus on the burden of proof for the effectiveness of remedies proposed by the merging parties.

EC Merger Control Liability

Nicolas Petit, Miguel Rato, Jun 30, 2007

The Commission’s Non-Contractual Liability in the Field of Merger Control  Don’t Use a Hammer When You Need a Screwdriver

It has become conventional wisdom to view the rulings handed down by the Court of First Instance in Airtours, Schneider, Tetra Laval and Impala as unprecedented setbacks for the European Commission that would usher in a new era of administrative accountability in the field of merger control.