An Economic Perspective on the Jurisdictional Reform of the European Merger Control System

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Series Details Volume 2, Number 1, Pages 119-140
Publication Date January 2006
ISSN 1744-1056
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"With the enforcement of an all-new European Community Merger Regulation (ECMR) as of 1 May 2004, three areas of EU merger control policy were significantly reformed:
. the modification of the substantive standard for the prohibition of mergers (“significant impediment of effective competition” instead of “creation or strengthening of a dominant market position”) plus the completion of Horizontal Merger Guidelines (specifying an increased emphasis on modern industrial economics and quantitative methods as well as introducing some sort of an efficiency defence)[substantive reform];
. procedural changes (increased flexibility of timetables, increased investigation rights, etc.) [procedural reform]; and
. a reform of the allocation of merger cases between the jurisdiction of the European Commission and community law and the jurisdiction of national competition authorities (NCAs) and laws of the Member States
[jurisdictional reform]."
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