IBA takes lead in creation of a new competition forum

A global competition forum which will shape the regulatory environment for global mergers could be launched by the end of the year under an initiative led by the International Bar Association (IBA).After a brainstorming meeting last month and support from the American Bar Association, a steering committee has been set up, led for the IBA by William Rowley QC of Canada.First mooted last year (see [2000] Gazette, 28 September, 9), the project could lead to a common process for international merger notification.Mr Rowley said that in 1999 alone, world-wide merger and acquisition activity reached US$3.4 trillion, adding that 80 to 100 competition laws exist, most of which have come about in the past ten years.

Whilst these do not necessarily differ in substance, they do in process, which is of considerable cost to global welfare and not just to businesses.Andrew Towler