Competition Law Quarterly Update - January 2016

WELCOME MESSAGE

In this issue, we round up some of the major developments in the competition law world from the second half of 2015.

Looking ahead into 2016, the year promises to be a busy one as nine of the ten ASEAN countries have competition laws in place and are working towards implementing these laws. In April this year, Singapore will also play host to the International Competition Network's annual meeting, which should shine a spotlight on the important role competition law plays in this region.

On 3 and 4 March this year, the Global Competition Law, Law Leaders Forum, will be held in Singapore. Promising to be a successful event, our practice head Chong Kin will be co-chairing the event this year with a confirmed list of prominent competition law panel specialists. In particular, this event will feature an ASEAN roundtable to discuss new competition law regimes in the region. The list of panel specialists will include high-level officials from the competition authorities of Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, the Philippines, and Thailand.

Through co-chairing this event, we extend a discounted rate to clients who are interested in attending. We have provided event details in the flyer attached to this update. We very much encourage and look forward to welcoming on the day.

SINGAPORE COMPETITION LAW WATCH

ARTICLES & COMMENTARIES: UPDATES FROM AROUND THE WORLD

REGULATORY UPDATES

UK Competition and Markets Authority issues guidelines on voluntary redress schemes

In August 2015, the UK Competition and Markets Authority ("CMA") issued a guidance document ("Guidance Document") on how voluntary redress schemes for infringements of competition law can be approved by the CMA and other relevant regulators (collectively, "Regulator").

The Guidance Document follows amendments to the Competition Act 1998, which now allows a person who has infringed competition laws to submit a voluntary redress scheme for the Regulator's approval. In certain circumstances, infringers can receive a discount of up to a maximum of 20% on the penalty imposed by the Regulator. Those affected by the infringement can also claim compensation through the scheme without having to go to court. However, the availability of the scheme does not prevent persons who have been harmed by a competition law infringement from seeking recourse in other forms e.g. by bringing follow-on private action against the infringers. The redress schemes can only be approved if they are related to decisions issued by the Regulator or the European Commission (e.g. in relation to a breach of the prohibition...