Norway’s opposition to decreasing its two million NOK deposit insurance guarantee to the European maximum coverage

The Norwegian deposit guarantee coverage is about two times higher than the 100,000 EUR per-depositor-per-bank coverage applicable in the European Union (EU). On 1 January 2019, the Norwegian government amended the Act on Financial Institutions and Financial Groups (“Finansforetaksloven”) incorporating the changes implemented by the European Deposit Guarantee Schemes Directive (DGSD) (2014/49/EU), except for the coverage level that will remain at two million NOK (around 200,000 EUR).
Although the DGSD has Economic European Area (EEA) relevance, it has not still been incorporated into the EEA Agreement. Could Norway be forced to reduce its coverage level? Does the DGSD have a vertical direct effect if it has not been included into the EEA Agreement? Would Norway use its right to opt out? … More Norway’s opposition to decreasing its two million NOK deposit insurance guarantee to the European maximum coverage

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Thoughts on the Norwegian SWF’s divestment strategy

Last month, Norway’s Sovereign Wealth Fund (“SWF”) announced its plans to divest from oil and gas stocks in mainly small exploration and production companies while holding the major oil and gas producers as long as they invest in renewables.

However, the underlying rationale behind this decision is merely a need for a balanced portfolio. Could this divestment resolution have significant consequences for the oil and gas industry? Will this result in a faster switch to a low carbon economy? Why do we assume that major oil players will lead the change?
More Thoughts on the Norwegian SWF’s divestment strategy

Carl Baudenbacher’s book launch at Schjødt – Oslo

Last Friday, at Schjødt’s headquarters in Oslo, there was an extraordinary book launch with a no less exceptional author: Professor Carl Baudenbacher, former President of the EFTA Court, presented “Judicial Independence – Memoirs of a European Judge”. From an EEA outsider’s perspective, it was an enlightening presentation, as Professor Carl Baudenbacher said, “What students and EU legal practitioners know … More Carl Baudenbacher’s book launch at Schjødt – Oslo

Umbrella Pricing

Umbrella pricing:  When undertakings placed outside a cartel increase their prices for substitute products benefiting from the upward effect that the cartel has on prices.  The umbrella effect enables non-cartel members to raise their prices that would otherwise be impossible in a competitive market. The judgment of the European Court of Justice in Kone AG … More Umbrella Pricing

Tips on merger control: Unilateral or non-coordinated effects

Unilateral or non-coordinated effects refers to the scenario where the horizontal merger will significantly impede effective competition, by eliminating effective competitive constrains, which consequently would have increased market power.  The merged firm can profitably maintain a price increase without the need for a cooperative response from its competitors – Guidelines on the assessment of horizontal mergers … More Tips on merger control: Unilateral or non-coordinated effects

EU Consumers’ Actions for Damages: Quo Vadis?

By the end of this year, the EU Damages Directive[1] (“the Directive”) -designed to encourage consumers and small businesses to claim for damages against competition offenders-, must be implemented by the Member States. Thirteen years ago, in 2003 Wouter P.J. Wils[2], a member of the Legal Service of the European Commission, when answering the question whether … More EU Consumers’ Actions for Damages: Quo Vadis?

Minority Acquisitions

Short extract of my dissertation submitted to obtain the LLM degree in Competition Law and Economics. Brussels School of Competition. This memo envisages providing a succinct review of the existing debate surrounding acquisitions of non-controlling shareholdings by questioning the status quo of the EU reform. President Junker expressed reservations about some of the elements contained in the … More Minority Acquisitions

Vaccines for human use: Italian competition authority launches a sector inquiry

On 27 May, the Italian Competition Authority (Autorita Garante della Concorrenzza e del Mercato (AGCM)) launched a sector inquiry into the market for human vaccines.1 The AGCM has expressed concerns about how competition is working in the market for human vaccines as regards Article 2(2) of Law 287 (the Italian Competition Act) and Article 101 of the Treaty on the Functioning of the European Union (TFEU). In particular, in launching the inquiry, the AGCM noted (i) the importance of human vaccines in terms of public health cost; (ii) the fact that human vaccines are procured through public tenders; and (iii) alleged increases in the price of certain key vaccines.
More Vaccines for human use: Italian competition authority launches a sector inquiry