In our Seat with an Expert video series, A&M Disputes and Investigations practitioners highlight key trends and developments in global disputes, investigations and compliance, forensic technology, and cybersecurity and provide expert analysis and insights into key issues affecting companies worldwide.
In this video, North America Economics Practice Co-Leader, Richard Bergin, provides insights into these key issues:
- What are the most significant competition regulatory and enforcement issues on the horizon?
- What are key securities enforcement developments and issues today?
*Chambers and Partners recognized Alvarez & Marsal in the 2022 Economic Analysts and Economic Risk guides.
Transcript:
What are the most significant competition regulatory and enforcement issues on the horizon?
Given the Biden administration’s Executive Order on competition and the hard line stated by domestic and international agency priorities, we expect heightened regulatory enforcement of antitrust and securities laws.
In July last year, the White House ordered a whole of government approach to further promote competition domestically and abroad. The DOJ Antitrust Division signals impending criminal monopolization cases for the first time in over 40 years. They intend to investigate and pursue alleged criminal violations against individuals or companies who violate Section 2 of the Sherman Act. A harder line of collusion cases was also announced. In particular, there is a special focus on the labor, healthcare, transportation, and technology markets. This will approve competition and hopefully reduce inflation.
In addition this year, mergers are less certain. The FTC is actively reviewing mergers with multiple challenges going on in court. The FTC and DOJ are revising the merger guidelines for horizontal and vertical mergers.
What are key securities enforcement developments and issues today?
We are also seeing enhanced securities enforcement to reduce fraud and market abuse of the global financial markets. Financial institutions should anticipate more cyber-related, and algorithmic price-fixing enforcement actions.
The SEC is planning new guidance for insider trading, market manipulation, and ESG disclosures. Finally, cross-market trading reviews are going global, with an increased focus on benchmarks and the relationship between physical and financial markets.