The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The Office of Fair Trading (OFT) is looking to lighten its workload by asking the private sector to boost antitrust efforts.
The OFT is preparing a response document in support of the European Commission's green paper, which encourages private enforcement of antitrust cases.
In an exclusive interview with The Lawyer, OFT chairman Philip Collins said the regulator "strongly supported" the Commission's move towards introducing reforms to help private parties pursue competition cases.
"It's an important issue and it goes back to the proper use of public and private resources," he said. "We're looking at what we can do in the UK to promote private enforcement."
The OFT chairman's comments have provoked a mixed reaction from City competition lawyers.
One magic circle competition lawyer said the UK regulator was in danger of following in the footsteps of the US, where private action is sought after the regulator makes a judgment.
"This doesn't result in more enforcement - just a huge amount of expenditure and a heavy burden on the so-called victim," said the lawyer.
DLA Piper Rudnick Gray Cary competition partner Mike Pullen said private enforcement would be difficult for companies that did not have the powers to obtain evidence. "Unlike companies, regulators like the OFT have the powers to conduct dawn raids and demand documents and evidence to support the case," he said.
Lovells global head of competition Susan Bright said: "The OFT and the Commission don't have the resources to pursue every case… I think a lot of these proposals will take a long time to see the light of day."