Friday, 22 November 2019

William Kovacic - Competition Law: NewChallenges

Personnel Training Seminar on New Challenges for Competition Authorities, conducted by William Kovacic, Non-Executive Director of the United Kingdom’s Competition and Markets Authority (CMA) Board, Professor of Law and Policy at King’s College London and George Washington University.

The presentation covered in a very detailed and intelligible manner the developments and emerging challenges of the dynamic modern economy to be met by Competition Authorities at an organisational and administrative level.

The main purpose of the presentation was to examine the evolution of major Competition Authorities worldwide (DG COMP, FTC, CMA, Bundeskartellamt) and their reaction to the developments in the digital economy with regard to their structural and operational adaptation.

Particular emphasis was placed on the necessary initiatives that Competition Authorities are required to take both with regard to their structure, such as the setting up of specialized unit for digital markets or specific posts for experts such as Chief Economist, and to the staffing of their organisational units with new scientific personnel specialised in new technologies (big data, algorithms, e-commerce, fin tech etc).

Specific reference was made to the Competition Authorities’ mode of functioning, since they are called upon to create the most appropriate framework to promote their efficiency and enhance their effectiveness by applying both quantitative and qualitative criteria, with a view to maximising the impact of effective competition on market functioning.

The presentation was followed by a particularly fruitful discussion and several questions were posed by the participants.

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