Competition and Regulatory Newsletter

Court of Appeal brings UK approach to MIFs in line with the European Commission: MasterCard, Visa on the hook

In its judgment of 4 July 2018 the UK Court of Appeal overturns three previous conflicting CAT and High Court rulings, and finds that the setting of MIFs in UK transactions by MasterCard and Visa amounts to a restriction of competition under Article 101 TFEU. The judgment follows the approach taken by the European Commission in its 2007 decision on MasterCard’s UK MIFs, as confirmed by the European Court of Justice. All three appeals have been remitted to the CAT for reconsideration.

Also in this newsletter

• Singapore Competition and Consumer Commission proposes fines and remedies on Grab/Uber transaction
• European Commission issues draft passing-on guidelines to help national courts estimate economic harm caused by EU antitrust breaches
• General Court reinstates Sanitec’s fine in bathroom fixtures and fittings cartel