United Kingdom: Closed consultation on CMA guidance on the mergers reporting requirements for strategic market status firms

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Description

Closed consultation on CMA guidance on the mergers reporting requirements for strategic market status firms

On 12 July 2024, the Competition and Markets Authority (CMA) closes the public consultation on its draft guidance on the merger reporting requirements for Strategic Market Status (SMS) firms, as mandated by the Digital Markets, Competition and Consumers Act (the DMCC Act). The draft guidance aims to clarify the obligations of SMS firms and their affiliates in reporting certain mergers and acquisitions that have a nexus to the United Kingdom. The draft guidance outlines the scope of the duty to report, detailing which transactions qualify as reportable events and the process for submitting such reports. It further explains the criteria for a transaction to be considered a reportable event, including the acquisition of interests that result in SMS Acquirers obtaining "qualifying status", the UK nexus requirement, and the consideration value thresholds. Additionally, the guidance addresses the enforcement provisions under the DMCC Act for non-compliance with the reporting requirement.

Original source

Scope

Policy Area
Competition
Policy Instrument
Merger control regulation
Regulated Economic Activity
cross-cutting
Implementation Level
national
Government Branch
executive
Government Body
competition authority

Complete timeline of this policy change

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2024-05-24
in consultation

On 24 May 2024, the Competition and Markets Authority (CMA) initiated a public consultation on its …

2024-07-12
processing consultation

On 12 July 2024, the Competition and Markets Authority (CMA) closes the public consultation on its …