Showing archive for: “UK”
Brexit, Competition, and Economic Welfare
A key issue raised by the United Kingdom’s (UK) withdrawal from the European Union (EU) – popularly referred to as Brexit – is its implications for competition and economic welfare. The competition issue is rather complex. Various potentially significant UK competition policy reforms flowing from Brexit that immediately suggest themselves are briefly summarized below. (These ... Brexit, Competition, and Economic Welfare
Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
I’d like to begin by discussing Geoff’s post on the pending legislative proposals designed to combat strategic abuse of drug safety regulations to prevent generic competition. Specifically, I’d like to address the economic incentive structure that is in effect in this highly regulated market. Like many others, I first noticed the abuse of drug safety ... Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
O competition, we stand on guard for thee
Today’s Canadian Competition Bureau (CCB) Google decision marks yet another regulator joining the chorus of competition agencies around the world that have already dismissed similar complaints relating to Google’s Search or Android businesses (including the US FTC, the Korea FTC, the Taiwan FTC, and AG offices in Texas and Ohio). A number of courts around ... O competition, we stand on guard for thee
Meese and Oman Spank the Corporate Law Prof Amici in Hobby Lobby
The Religious Freedom Restoration Act (RFRA) subjects government-imposed burdens on religious exercise to strict scrutiny. In particular, the Act provides that “[g]overnment shall not substantially burden a person’s exercise of religion even if the burden results from a rule of general applicability” unless the government can establish that doing so is the least restrictive means of furthering ... Meese and Oman Spank the Corporate Law Prof Amici in Hobby Lobby
Changes at the FTC Bureau of Economics
Recently, the FTC announced that Howard Shelanksi would be taking charge of the Bureau of Economics on July 1st. Now comes news that DOJ economist Ken Heyer (and UCLA Bruin!) — longtime Economics Director at the Division — will be moving over to the Commission as Deputy Director for Antitrust. Leemore Dafny (Northwestern) will also come ... Changes at the FTC Bureau of Economics
The EU and jurisdictional competition for hedge fund regulation
The NYT reports: When he rejected a new European accord on Friday that would bind the continent ever closer, Prime Minister David Cameron seemingly sacrificed Britain’s place in Europe to preserve the pre-eminence of the City, London’s financial district. The question now is whether his stance will someday seem justified, even prescient. Mr. Cameron refused ... The EU and jurisdictional competition for hedge fund regulation
Big Law as LPO reseller
Yesterday’s Law Blog notes a Fronterion report that legal outsourcers are facing more competition from “insourcers” setting up centers inside the U.S. The reasons include rising wages in India and falling wages in the U.S. and the U.K. so The glut of new law school graduates in 2012 will likely put offshore legal services ... Big Law as LPO reseller
The ABA creeps sideways on non-lawyer ownership
The ABA is considering loosening the bar on non-lawyer ownership of law firms (HT Law Blog). Here’s the discussion paper. For those who are thinking that this move is meaningful, forget about it. The ABA proposal (which would still have to be approved by the ABA and then by individual states) would permit non-lawyer ownership ... The ABA creeps sideways on non-lawyer ownership
The UK deregulates business structures for law firms
The Law Blog notes that the UK’s Legal Services Act goes into effect today. When all the regulatory structures are set up, lawyers will be able to practice in “Alternative Business Structures” such as publicly traded law firms and supermarkets. According to The Lawyer, the law firm Everyman Legal says it will be “first in ... The UK deregulates business structures for law firms
Ideas for growth
NASDAQ’s Bob Greifeld writes in the WSJ: According to the Small Business Association, small businesses accounted for 64% of the 15 million net new jobs created from 1993 through 2008. In 2010, only 51% of jobs in the U.S. were created by small businesses. In the 1990s, initial public offerings by smaller companies (those raising ... Ideas for growth
India, the UK, and US law firms
The Law Blog reports that India is considering letting in U.K. law firms after long barring all foreign law firms from having offices in India. The LB notes that the UK would have to reciprocate by allowing Indian firms and that “[i]t’s unclear whether U.S. firms would be invited to the party.” Well, I imagine ... India, the UK, and US law firms
Robert Crandall on It Is Time to Move Ahead with Deregulation
As we approach the end of this Symposium, I am struck by how much consensus exists on this subject. Of course, we are not conducting this exercise under the auspices of the ABA. Nevertheless, there is sufficient intellectual backing for a major push to begin the deregulation of legal services. Despite warnings that this is ... Robert Crandall on It Is Time to Move Ahead with Deregulation
