EC Consults on Services of General Economic Interest Package

Competition Commissioner Almunia recently stated that the provision of services of general economic interest must be done within State aid rules to avoid distortions of competition. The SGEI Package offers guidance on when state funding of SGEIs is compatible with State aid rules. Page 6

UK’s Office of Fair Trading to Apply for Competition Disqualification Orders

The OFT recently explained that it intends to use its powers to apply for Competition Disqualification Orders. The OFT can apply for a CDO against a director of an undertaking that has infringed competition law - even one who was unaware but “ought to have known” of an infringement. Page 10

Proposed UK Bank Levy to Affect 30 to 40 Banking Groups

The UK Coalition Government’s Levy is intended to encourage banks to move away from riskier funding models, reducing systemic risk, while also generating around £2.5 billion of annual revenues. The details of the Consultation Document are summarized. Page 13