One Step in the Right Direction - The New Horizontal Guidelines and the Restated Block Exemption Regulations

Abstract

In its new approach to horizontal agreements, the Commission expands the range of efficiency considerations that can be taken into account to assess practices. The objective is reached, partly at least, in the Regulation, which provides more clarity on issues important in that regard. But the Guidelines remain desperately vague – potentially causing a ‘chilling effect’ towards efficient practices and creating a risk that firms may unconsciously engage in unlawful activities.