A proposed reform to Germany's competition law would significantly increase the powers of the country's anti-trust watchdog, which could inject more uncertainty into the business climate. On July 5, lawmakers in the lower house of Germany's parliament, the Bundestag, approved a draft law that would greatly enhance and expand the Federal Cartel Office's (FCO) authority, including its ability to investigate economic sectors and impose penalties on companies that violate the country's competition law. Notably, the proposed reform grants the FCO far-reaching intervention powers by allowing the anti-trust office to initiate inquiries if it simply suspects that competition is being restricted or distorted (currently, the FCO can only do so after a company has been found to be infringing on Germany's competition law). The draft amendment will now go to a vote in the upper house of the country's parliament, Bundesrat, after the legislative body reconvenes in September....
