Antitrust & Competition Law
In most Western jurisdictions, competition laws are designed to promote the existence of competition within the respective markets. Regulators are tasked with reigning in anti-competitive conduct by companies in order to prevent cartels and monopolies.
European Union competition law is established under Articles 101 to 109 of the Treaty on the Functioning of the European Union, in addition to a series of Regulations, the most notable being Council Regulation (EC) No 1/2003 regarding the implementation of competition law rules and Commission Regulation (EU) No 651/2014, more generally known as the General block exemption Regulation.
The EU is competent in four main areas: cartels, abuse of dominance, mergers, and state aid. The main authority for enforcing competition rules in the EU rests with DG Competition of the European Commission, currently headed by Commissioner Margrethe Vestager.