On July 10, 2025, the French Competition Authority (“FCA”) published both its 2024 Annual Report,[1] and its 2025-2026 Roadmap,[2] which outlines its priorities for the year ahead.
Latest from Cleary Antitrust Watch
EU Merger Guidelines Consultation – Our Views on Innovation and Other Dynamic Elements in Merger Control
As part of our response to the European Commission’s consultation on possible reforms to its merger control guidelines,[1] we provided our views on Topic C – Innovation And Other Dynamic Elements In Merger Control.
2024 Antitrust Update: Navigating the Evolving Landscape
The following is part of our annual publication Selected Issues for Boards of Directors in 2025. Explore all topics or download the PDF.
Antitrust in 2024 was marked by evolving policy developments, vigorous enforcement, and eye-catching court decisions. In the U.S., an aggressive enforcement approach lead to unpredictability and lengthy merger review process across sectors. In
FCO Finds That Microsoft’s Hiring of Key Inflection Employees and Licensing of Inflection Technology Constitutes a Reportable Concentration, but Declines Jurisdiction Due to Lack of Sufficient Local Nexus
On November 29, 2024, the German Federal Cartel Office (“FCO”) concluded that Microsoft’s hiring of nearly all of Inflection AI, Inc.’s (“Inflection”) employees together with agreements on financing and the use of Inflection’s intellectual property amounted to a “concentration” under German merger control law. However, due to the lack of “substantial domestic operations” at the time of
DOJ Antitrust Creates Guidance for Evaluating Antitrust Compliance Programs
On November 14, 2024, the U.S. Department of Justice (“DOJ”) Antitrust Division (the “Division”) released guidance for the Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations (the “Guidance”). The Guidance will be used by the Division in assessing the adequacy and effectiveness of a company’s antitrust compliance program when making a charging or resolution
New Commission Unveiled: What To Expect For Competition?
On September 17, 2024, the President of the European Commission, Ursula von der Leyen, announced the structure of the new Commission and her nominees to serve as Commissioners for the upcoming 5-year term (2024-2029). Each of these nominees will be scrutinized and need to be confirmed by the EU Parliament in the coming weeks.
Innovation, Resilience, Investment, and Scale: Draghi’s Vision for the Future of European Competitiveness[1]
On September 9, 2024, Mario Draghi, former President of the European Central Bank and former Italian Prime Minister, presented his report on the Future of European Competitiveness (the “Report”), with the objective to inform the work of the incoming Commission. Featured in President von der Leyen’s Political Guidelines issued in July,[2] and in several
The EU Foreign Subsidies Regulation in Practice: First Cases and Enforcement Trends
Almost eight months since taking full effect, the EU’s enforcement agenda for the Foreign Subsidies Regulation (FSR) is coming into focus. The European Commission (EC) has launched several in-depth and ex officio cases, and reviewed over 150 notifications.
CMA Publishes Update on its Initial Review into AI Foundation Models
On 11 April 2024, the CMA published an update paper (the Update Paper) in relation to its initial review of AI Foundation Models (FMs). An accompanying technical update report (the Technical Update Report) was published on 16 April 2024, providing further detail on market developments and feedback from stakeholder engagement. These updates follow the CMA’s
Enrico Letta’s Report – The Future Of The Single Market
On April 17, 2024, the former Italian Prime Minister, Enrico Letta, published a report outlining the future of the EU’s single market (the “Report”).[1] Letta proposed significant reforms, including the addition of a fifth freedom to spur innovation, consolidation in key sectors to enhance global competitiveness, and a new framework for State aid