Monitoring trustee services
Dealing with competition authorities and complying with the conditions they may impose aren’t everyday events and require expert, pragmatic and independent advice.
This text has references to our former brand name Smith & Williamson.
Competition authorities such as the European Commission and the Competition and Markets Authority sometimes rule that a monitoring trustee be appointed to ensure that a business complies with its obligations. Whether this is as part of a merger clearance or a market investigation, the process can be costly and time consuming.
Reducing the burden this can impose on a business requires a monitoring trustee with the experience to understand the market and how the regulator works, the breadth of knowledge to keep costs down and the commercial know-how to get the job done with minimal disruption.
Meeting your needs
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Balanced
Striking a balance between minimising the cost and potential disruption to your business during the process and ensuring you satisfy the compliance needs of the competition authority.
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Tailored
An approach that is commercially pragmatic, risk-based and takes into account the unique circumstances and issues of each case.
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Independent
Fewer potential conflicts of interest affecting our ability to act as a monitoring trustee compared to some of our larger competitors.
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One-stop shop
Direct access to specialist advice from senior staff across our diverse business, including corporate finance, commercial disputes and restructuring and recovery experts.
How we can help
- Monitoring trustee: overseeing compliance with commitments and reporting accordingly to the relevant competition authority
- Regulatory compliance: advising on how to deal with the competition authorities and the best approach to operational, organisational and financial matters
- Divestments: engaging our corporate finance team to dispose of any business interests if the competition authority requests a trustee firm that can also act as divestiture trustee
- Forensic technology: designing measures to monitor the exchange of commercially sensitive information in cases where the regulator requires firewalls to be set up
Our credentials
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Cases
We have acted as Monitoring Trustee on a wide range of cases, including:
AF- KL /DL/ AZ EC France, Netherlands, US and Italy Aviation HeidelbergCement / Italcementi EC Belgium and France Cement, aggregates and RMX Reckitt Benckiser / SSL EC UK and Ireland Pharmaceutical Solvay / Cytec EC Belgium and UK Chemicals Syniverse / MACH EC/ CADE US, Luxembourg, Brazil, India, Israel Mobile telecommunications -
Experience
Our team has acted on behalf of competition authorities including the European Commission, the UK Competition Commission, the Competition and Markets Authority, the Italian Antitrust Authority (AGCM) and the Brazilian Antitrust Authority (CADE).
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International
We have worked in over 20 countries in Europe as well as the US, India and Brazil. Our core team speaks English, Italian, Spanish, French, Dutch and German.
Speak to us to find out how we can help you
Related content
Recent Monitoring Trustee cases
Case COMP/M.3280 Air France-KLM
Case SA.57153 COVID-19 - Aid to Lufthansa
Frequently asked questions
When is a Monitoring Trustee required?
Competition authorities such as the European Commission and the Competition and Markets Authority sometimes rule that a monitoring trustee be appointed to ensure that a business complies with its obligations, whether this is as part of a merger clearance or a market investigation.
What are the skills required from a Monitoring Trustee?
Reducing the burden this can impose on a business requires a monitoring trustee with the experience to understand the market and how the regulator works, the breadth of knowledge to keep costs down and the commercial know-how to get the job done with minimal disruption.
What are other complimentary skills from our practice?
Direct access to specialist advice from senior staff across our diverse business, including corporate finance, commercial disputes and restructuring and recovery experts.