Ireland: Bank of America seeks Irish bank merger due to Brexit

Ireland: Bank of America seeks Irish bank merger due to Brexit

US investment banking giant Bank of America Merrill Lynch has applied to Ireland’s High Court for permission to merge one of its UK based subsidiaries with a related Irish firm in response to Brexit. The group seeks to merge Bank of America Merrill Lynch International DAC, with a registered office in Leopardstown in Dublin, with […]

UK: Competition chief faces tech and Brexit challenges

UK: Competition chief faces tech and Brexit challenges

As a new chairman takes the reins, and Brexit looms, the Competition and Markets Authority (CMA) is facing a revolutionary shift in its role, reported Financial News. The UK’s departure from the EU will mean the end of the European Commission’s remit to review merger and acquisition deals that affect Britain. For the CMA, that […]

UK: Britain and Brussels clash over who takes next Brexit step

UK: Britain and Brussels clash over who takes next Brexit step

The EU and Britain clashed Monday, October 9, after British Prime Minister Theresa May said the ball was in the EU’s court as Brexit negotiations entered a critical fifth round. Officials from both sides met in Brussels, but chief EU negotiator Michel Barnier and his British counterpart David Davis did not attend the start, underscoring […]

BCLWG Conclusions and Recommendations

The Brexit Competition Law Working Group (BCLWG) has today published its conclusions and recommendations. You can follow the link below to the original publication. In summary: Our view is that the interests of the UK economy, and those of businesses and consumers within it, will be best served by continuity of UK competition law and […]

UK: Davis stays on as UK Brexit Secretary despite election

UK: Davis stays on as UK Brexit Secretary despite election

British Prime Minister Theresa May’s new government has reconfirmed Brexit negotiator David Davis and other top ministers in their posts, ending speculation of a major cabinet reshuffle after Thursday’s general election. The Prime Minister’s office confirmed late Friday that Davis will keep his cabinet job as secretary of state for exiting the European Union, which […]

UK: Has Brexit hit UK mergers?

UK: Has Brexit hit UK mergers?

The Brexit vote has triggered a significant drop in mergers and acquisitions activity in the UK, according to new academic figures published today. Researchers have found that, almost a year on from the vote, deal activity has fallen by 15 per cent, or a drop of around 60 mergers a month from the 430 average […]

EU: Watchdog issues licensing guide for Brexit rush of financial firms

EU: Watchdog issues licensing guide for Brexit rush of financial firms

The European Union’s securities watchdog has published guidance to stop national supervisors from competing unfairly with each other to woo financial firms in a post-Brexit rush from Britain. Dublin complained to Brussels that rival financial centres were offering a “back door” to the EU’s single market through lax rules. In response to such concerns, the […]

Competition Law in EU Free Trade and Cooperation Agreements (And What the UK Can Expect after Brexit)

Posted by Social Science Research Network Competition Law in EU Free Trade and Cooperation Agreements (And What the UK Can Expect after Brexit) By Florian Wagner-von Papp (University College London) Abstract:     This paper outlines the system of concentric circles of cooperation in competition law enforcement around the European Union (EU). It examines the intergovernmental […]

EU: Blocks Deutsche Boerse’s $28 billion takeover of London Stock Exchange

EU: Blocks Deutsche Boerse’s $28 billion takeover of London Stock Exchange

An attempted merger between the German and British stock exchanges was struck down by European regulators on Wednesday, formally ending a deal that unravelled in the wake of Britain’s vote to leave the European Union. “We could not approve this merger on the terms … proposed,” said European Competition Commissioner Margrethe Vestager, blocking the 29 […]