Regulators have increasingly focused on the interplay between competition law and the digital economy in both their enforcement and merger control functions. We can expect that transactions involving platforms, big tech and rich data sets will be subject to close scrutiny. Merger reforms are also likely to target specific issues arising from tech related deals.

The ACCC has not succeeded in blocking a merger in a court or tribunal for more than 20 years. This track record is seeing the ACCC lay the groundwork to prompt substantive changes to Australia’s merger regime.

Moves that cement greater cooperation between regulators and regime convergence include a recent joint statement by the ACCC and regulators in the United Kingdom and Germany. This highlighted the need for a tougher approach, through more rigorous and effective merger review, including enforcement action, around the globe.

ACCC Chair Rod Sims has been a vocal champion on the need to change Australia’s merger control regime and the powers of the ACCC. The ACCC will shortly release its proposals to government regarding changes to Australia’s merger control regime.

The ACCC's preference for structural remedies (as opposed to behavioural) when considering how to address concerns in relation to complex mergers has remained as strong as ever over the past 12 months.

As of 1 January 2021, new foreign investment rules were introduced in Australia, including changes requiring clearance for offshore transactions not previously caught by the rules. FIRB will not issue a 'no objection' notification until the ACCC confirms it does not have concerns.