Philippine Competition Law: Understanding its impact on doing business in the Philippines

Manila Good News Philippine Competition Law: Understanding its impact on doing business in the Philippines Manila, Philippines, 17 December 2015 ---- Quisumbing Torres' Competition Focus Group hosted a conference titled "Philippine Competition Law: Understanding Its Impact on Doing Business in the Philippines" held on 9 December. Legal counsels and key decision makers from 40 Philippine business organizations attended the event and learned about the newly passed law, gaining both local and global perspectives on competition legislation. “The ASEAN is expected to be the 7th largest global trading bloc, and is expected to spur economic development through deeper market integration,” highlighted Quisumbing Torres Corporate & Commercial Practice Group and Competition Focus Group Head, Pearl Liu. Quisumbing Torres’ Dispute Resolution Practice Group Partner, Rodrigo Quimbo, welcomed guests representing more than 30 Philippine business organizations to the “Philippine Competition Law: Understanding its Impact on Doing Business in the Philippines” seminar held last 9 December. "The Philippine Competition Act is a landmark legislation that is certain to impact the way that businesses are run. With the passage of this law, the Philippines has been brought into greater conformity with other nations, which is a significant step towards the development of the ASEAN Economic Community," said Quisumbing Torres' Corporate & Commercial Practice Group and Competition Focus Group Head, Pearl Liu. Christina Macasaet-Acaban, partner in the Firm's Corporate & Commercial Practice Group and Competition Focus Group, further emphasized the significance of the legislative milestone and provided a comprehensive overview and introduction to the new competition law. "The long-awaited enactment of the Philippine Competition Act (PCA) confirms the Philippines’ commitment to move forward towards globalization while at the same time safeguarding the competitiveness of all levels of enterprises. We are pleased to be among those who are first to bring awareness and knowledge of the law to the Philippine business community, and to assist towards compliance with this landmark legislation." Christina explained. Click here to learn more about the Philippine Competition Law For more information, contact: Pearl Liu Practice Group Head Corporate & Commercial T: +63 (2) 8194905 M: +63 (917) 8194905 63 (998) 9627520 Pearl.Liu@quisumbingtorres.com Christina Macasaet-Acaban, partner in Quisumbing Torres’ Corporate & Commercial Practice Group and Competition Focus Group, provided a comprehensive overview and introduction to the Philippine Competition Act (PCA). "The law is supported by strong tools for enforcement, such as unannounced inspections or 'dawn raids'," explained Mia Imperial, partner in the Firm's Disputes Resolution Practice Group and Competition Focus Group. "Preparedness is the key to minimizing the impact of a dawn raid. It is thus crucial to have an effective response protocol in place, and to train your employees in accordance with that protocol. At the same time, it is important to ensure that your company's and employee's rights, and the limits on the inspectors' powers, are respected" she added. Mia presented what to expect during a dawn raid, and some global best practices to deal with dawn raids. Providing insights from the perspective of a mature competition regime was Grant Murray, Global Director of Knowledge Management for Baker & McKenzie’s Global Antitrust & Competition Group. He presented achievements of the European Commission and explored what these could mean for the Philippines in the early years of a new competition law. He noted that a great deal of time and effort had been invested to develop a national competition law which matches international standards. Grant commented that, "…the next few years will be critical. With a robust yet fair and transparent enforcement agency, this law has the potential to boost Philippine competitiveness, including in ASEAN and beyond". Mia Imperial, partner in Quisumbing Torres’ Dispute Resolution Practice Group and Competition Focus Group, shared best practices in preparing for and handling a dawn raid -- from the inspector’s arrival to the end of the raid. In the Firm's commitment to provide a global perspective on local legal issues, a panel discussion added valuable insights for the audience where Baker & McKenzie and Quisumbing Torres lawyers shared their experience in counselling businesses preparing for compliance with competition laws and anticipating required changes to business practices and cultures. Pearl said, "Since our law is in its infancy, we looked to the experience of our Baker & McKenzie colleagues in more mature jurisdictions and invited them to Manila so that they can share with the audience, firsthand, their knowledge and experience." The panel also discussed merger control rules and how they impact transactions and how businesses need to factor them into the deal structuring to seize merger and acquisition opportunities. Andre Gan, chairman of the Baker & McKenzie Asia Pacific Antitrust and Competition Practice Group Steering Committee, moderated the panel discussion "A new Competition Law? Lessons from the region on what business should expect from, and prepare for, changes to the rules of play and enforcement activity". Andre Gan, chairman of the Baker & McKenzie Asia Pacific Antitrust and Competition Practice Group Steering Committee, moderated the panel discussion "A new Competition Law? Lessons from the region on what business should expect from, and prepare for, changes to the rules of play and enforcement activity". He highlighted, "The enactment of the Philippine Competition Act brings forth a much-anticipated new chapter in the enforcement of competition policy and rules in the Philippines". Quisumbing Torres' successful Competition Law Seminar is one of many initiatives that the Firm will run to counsel and guide its clients, as well as the larger business community, in complying with the new rules of play. Baker & McKenzie and Quisumbing Torres look forward to playing their parts in the continuing legal education of the business community in the Philippines in this new and exciting area of regulation." Members of the panel were Charles Veloso (Quisumbing Torres, Philippines), Mochamad Fachri (Hadiputranto, Hadinoto & Partners , Indonesia), Melissa Healy (Baker & McKenzie.Wong & Leow, Singapore) and Narumol Chinawong (Baker & McKenzie, Ltd., Thailand). Assistant Secretary and Head of the Office for Competition of the Philippine Department of Justice, Geronimo Sy, took the stage and gave the audience updates on the enforcement and advocacy initiatives of his office. Grant Murray, director (Knowledge Management) of Baker & McKenzie’s Global Antitrust & Competition Group, presented achievements of the European Commission and explored what these could mean for the Philippines in the early years of a new competition law. To complete the full day's discussion, Assistant Secretary and Head of the Office for Competition of the Philippine Department of Justice, Geronimo Sy, took the stage and gave the audience updates on the enforcement and advocacy initiatives of his office. He identified the priority sectors for competition and regulatory reforms -- telecommunications, transportation, energy and commodities. The event was held at the Discovery Primea, Ayala Avenue, Makati City. Competition Law experts from Quisumbing Torres and Baker & McKenzie shared their experiences in counselling businesses on preparing for compliance with competition laws and anticipating required changes to business practices and cultures. In photo, left to right, Andre Gan (Chairman, Asia Pacific Antitrust and Competition Practice Group Steering Committee Baker & McKenzie), Melissa Healy (Senior Associate, Corporate & Securities Group, Baker & McKenzie.Wong&Leow -Singapore), Charles Veloso (Senior Associate, Corporate & Commercial Practice Group), Mochamad Fachri (Partner, Corporate & Securities Practice Group, Hadiputranto, Hadinoto & Partners - Indonesia), and Narumol Chinawong (Senior Associate, Corporate & Commercial Practice Group, Baker & McKenzie Ltd. -Thailand) Quisumbing Torres' Competition Focus Group Recognizing the need for strategic support in light of this significant legal development in the country, the Firm has formed a Competition Focus Group to help clients navigate the issues facing both domestic and foreign clients doing business in or expanding to the Philippines. Lawyers from our Corporate & Commercial and Dispute Resolution Practice Groups comprise the Competition Focus Group, an integral part of Baker & McKenzie’s Global Antitrust & Competition Group, one of the largest antitrust practices in the world. The team collaborates with antitrust and competition lawyers in Europe, Latin America, North America and the rest of the Asia Pacific region to give clients the highest level of service in an increasingly globally connected world. With this international reach, the Firm has the unique ability to effectively coordinate legal strategies in every major antitrust and competition jurisdiction in the world.