\n\u201ePeisajul concuren\u0163ial local reflect\u0103, \u00een mare m\u0103sur\u0103, realitatea interna\u0163ional\u0103\u201d, spune Diana Cr\u00e2nga\u015fu, senior associate \u015fi coordonator al practicii de dreptul concuren\u0163ei \u00een cadrul Clifford Chance Badea. \u201eLa nivel global, vigilen\u0163a autorit\u0103\u0163ilor de resort este \u00een cre\u015ftere, num\u0103rul de investiga\u0163ii privind suspiciunea unor \u00een\u0163elegeri de tip cartel \u015fi amenzile \u00een acest sens ating\u00e2nd niveluri record \u00een ultimii ani, at\u00e2t \u00een cadrul Uniunii Europene, c\u00e2t \u015fi \u00een \u0163\u0103ri importante pentru economia global\u0103, cum sunt Statele Unite \u015fi China\u201d.<\/p>\n
\nLa r\u00e2ndul s\u0103u, Consiliul Concuren\u0163ei este extrem de activ \u00een ultimii ani, at\u00e2t prin investiga\u0163iile derulate, c\u00e2t \u015fi prin num\u0103rul \u00een cre\u015ftere de sanc\u0163iuni impuse. \u201eAcest lucru confirm\u0103 efortul autorit\u0103\u0163ii de a alinia pia\u0163a rom\u00e2neasc\u0103 la rigorile interna\u0163ionale \u015fi o ajut\u0103 s\u0103 se maturizeze, folosind p\u00e2rghiile concuren\u0163iale corecte \u00een raporturile economice dintre diver\u015fi juc\u0103tori. Nu este \u00eentotdeauna un lucru comod, \u00eens\u0103 este cu siguran\u0163\u0103 singurul mod corect de a construi o economie sustenabil\u0103 \u015fi puternic\u0103\u201d, adaug\u0103 Diana Cr\u00e2nga\u015fu.<\/p>\n
\nDiscu\u0163iile din cadrul unui seminar organizat recent de Clifford Chance Badea, care au abordat at\u00e2t contextul concuren\u0163ial local, c\u00e2t \u015fi tendin\u0163ele europene \u015fi de la nivel global, au identificat c\u00e2teva previziuni pentru mediul de afaceri, \u00een cursul acestui an.<\/p>\n
\nPreviziunile anului 2016 \u00een dreptul concuren\u0163ei<\/p>\n
\n1. Valoarea amenzilor \u00een cre\u015ftere. La nivel global, dar \u015fi na\u0163ional, 2016 ar putea aduce mai pu\u0163ine decizii de sanc\u0163ionare, dar amenzi totale mai mari, \u00een contextul \u00een care autorit\u0103\u0163ile de concuren\u0163\u0103 sunt mult mai atente \u015fi mai agresive \u00een analizarea \u015fi sanc\u0163ionarea cartelurilor. Investiga\u0163iile vor viza tot mai mult pie\u0163e cu impact major asupra unui num\u0103r mare de contribuabili. \u00cen acest context, este de a\u015fteptat \u015fi o cre\u015ftere a num\u0103rului de contesta\u0163ii \u00een instan\u0163\u0103 (litigii), inclusiv pe partea cererilor de desp\u0103gubiri formulate \u00een baza deciziilor de sanc\u0163ionare ale autorit\u0103\u0163ilor de concuren\u0163\u0103.<\/p>\n
\n2. Eforturi multijurisdic\u0163ionale extinse. Investiga\u0163iile concomitente \u00een mai multe jurisdic\u0163ii devin o practic\u0103 obi\u015fnuit\u0103. Cooperarea punctual\u0103 \u00eentre autorit\u0103\u0163ile de concuren\u0163\u0103 va continua s\u0103 se extind\u0103 \u015fi s\u0103 devin\u0103 mai important\u0103 \u00een finalizarea investiga\u0163iilor. \u00cen Rom\u00e2nia este de a\u015fteptat o colaborare \u015fi mai extins\u0103 a autorit\u0103\u0163ii de concuren\u0163\u0103 cu alte autorit\u0103\u0163i \u015fi institu\u0163ii de stat. <\/p>\n
\n3. Programele de conformitate vor fi esen\u0163iale. \u00cen acest context, programele de conformitate revin \u00een prim plan, iar bunele practici devin esen\u0163iale. Un astfel de program trebuie adaptat la propriul business, iar elaborarea sa trebuie s\u0103 aib\u0103 la baz\u0103 o analiz\u0103 riguroas\u0103 de risc, specific\u0103 activit\u0103\u0163ii \u015fi industriei \u00een care activeaz\u0103 societatea, precum \u015fi structurii sale organiza\u0163ionale. Este nevoie ca efortul \u015fi responsabilitatea cu care companiile implementeaz\u0103 un astfel de program s\u0103 atrag\u0103 \u015fi o recompensare efectiv\u0103 din partea autorit\u0103\u0163ilor de concuren\u0163\u0103, prin aplicarea unei reduceri la amenda final\u0103 atras\u0103 de o eventual\u0103 investiga\u0163ie.<\/p>\n
\n4. Noutatea economic\u0103 si comercial\u0103 va fi sub lupa autorit\u0103\u0163ilor de concuren\u0163\u0103. Autorit\u0103\u0163ile de concuren\u0163\u0103 vor continua s\u0103 analizeze posibilitatea existen\u0163ei cartelurilor \u015fi a practicilor comerciale anticoncuren\u0163iale \u00een domeniile care s-au dezvoltat major \u00een ultimii ani, dar \u015fi \u00een practicile comerciale recente \u2013 este de a\u015fteptat c\u0103 vor exista mai multe investiga\u0163ii \u00een v\u00e2nz\u0103rile online, industria IT, retail, dar \u015fi \u00een industria de administrare a a\u015fa-numitelor big data. Excep\u0163iile din legisla\u0163ia fiscal\u0103 na\u0163ional\u0103 a Statelor Membre vor continua s\u0103 fie sub scrutin din punct de vedere al relevan\u0163ei regulilor din legisla\u0163ia ajutorului de stat. <\/p>\n
\n5. \u201ePericolul\u201d din discursurile publice. Autorit\u0103\u0163ile de concuren\u0163\u0103 vor analiza \u00een investiga\u0163iile lor toate discursurile publice ale societ\u0103\u0163ilor (comunicate de pres\u0103, rapoarte financiare sau inform\u0103ri c\u0103tre investitori, previziuni financiare sau proiec\u0163ii de strategii \u015fi evolu\u0163ii de pre\u0163uri, interviuri acordate presei etc.), folosirea canalelor social media de c\u0103tre angaja\u0163ii companiilor, precum \u015fi analizele sau statisticile prezentate \u00een cadrul conferin\u0163elor de industrie. Cazurile recente de practici concertate au inclus \u015fi analiza atent\u0103 a comunicatelor de pres\u0103 transmise de societ\u0103\u0163i din diferite industrii.<\/p>\n
\n6. Mai mult\u0103 vigilen\u0163\u0103 \u00een M&A. Dac\u0103 2015 a \u00eenregistrat c\u00e2teva tranzac\u0163ii mari de fuziuni \u015fi achizi\u0163ii, ce au generat concentr\u0103ri economice substan\u0163iale, \u00een 2016 acest entuziasm ar putea fi temperat de constr\u00e2ngeri concuren\u0163iale. \u201eAm asistat deja la situa\u0163ii \u00een care planuri ambi\u0163ioase de M&A au fost abandonate sau restr\u00e2nse, pentru c\u0103 \u2013 odat\u0103 analiza concuren\u0163ial\u0103 realizat\u0103, era posibil c\u0103 tranzac\u0163ia fie s\u0103 nu fie aprobat\u0103 de autorit\u0103\u0163ile de concuren\u0163\u0103, fie s\u0103 atrag\u0103 remedii majore pentru aprobare, care ar fi redus prea mult scopul economic al tranzac\u0163iei \u00een sine\u201d, explic\u0103 Diana Cr\u00e2nga\u015fu. Analiza unei tranzac\u0163ii de M&A majore trebuie s\u0103 cuprind\u0103 din momentul negocierilor \u015fi o analiz\u0103 a posibilelor remedii (spre exemplu, diviz\u0103ri ale business-ului, v\u00e2nz\u0103ri de active), pe care o autoritate de concuren\u0163\u0103 ar fi dispus\u0103 s\u0103 le accepte pentru a aproba respectiva tranzac\u0163ie.<\/p>\n
\n7. Focus pe preven\u0163ie. Din ce \u00een ce mai multe autorit\u0103\u0163i de concuren\u0163\u0103 vor \u00eencerca s\u0103 se implice \u015fi \u00een activitatea de ini\u0163iere \u015fi elaborare a politicilor publice, prin avizarea acestora din punct de vedere al conformit\u0103\u0163ii cu legisla\u0163ia concuren\u0163ei, c\u0103ut\u00e2nd astfel s\u0103 previn\u0103 pe c\u00e2t posibil situa\u0163ii \u00een care anumite proiecte legislative sau ac\u0163iuni ale autorit\u0103\u0163ilor publice s\u0103 provoace impact \u015fi consecin\u0163e anticoncuren\u0163iale \u00een pia\u0163\u0103.<\/p>\n
\nClifford Chance este prezent\u0103 \u00een Rom\u00e2nia din 2006 \u015fi opereaz\u0103 \u00een prezent sub denumirea Clifford Chance Badea. Biroul din Bucure\u015fti se implic\u0103 \u00een mod constant \u00een tranzac\u0163ii complexe de \u00eemprumuturi sindicalizate, finan\u0163\u0103ri, restructur\u0103ri, emisiuni de eurobonduri \u015fi de ac\u0163iuni pe pie\u0163e interna\u0163ionale de capital, instrumente financiare derivate, achizi\u0163ii de companii de c\u0103tre investitori strategici sau fonduri de private equity, proiecte de infrastructur\u0103 \u015fi autostr\u0103zi, investi\u0163ii imobiliare, precum \u015fi litigii \u015fi arbitraje interne \u015fi interna\u0163ionale.<\/p>\n
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Anul 2015 a fost extrem de intens \u015fi \u00een Rom\u00e2nia \u00een domeniul concuren\u0163ei, cu mult dinamism \u00een zona autorit\u0103\u0163ii de control, un num\u0103r record de investiga\u0163ii \u015fi decizii de sanc\u0163ionare, precum \u015fi modific\u0103ri importante de legisla\u0163ie. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510,511],"tags":[10313,6351,32575,9354,9696,44,16884,7128],"class_list":["post-130870","post","type-post","status-publish","format-standard","hentry","category-actualitate","category-afaceri","tag-autoritati","tag-concurenta","tag-controlul","tag-decizii","tag-efecte","tag-investigatii","tag-reglementare","tag-tranzactii"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/130870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130870"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/130870\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}