France: Creation Of A New Competition Authority And Reform Of Commercial Relations

On August 4, 2008, French law no. 2008-776, which purports to modernize aspects of competition and commercial law, was enacted (“Loi de modernisation de l’économie”, hereinafter, the “LME”). In the field of competition law, the LME provides for the creation of a new “Competition Authority” and the reform of commercial relations between suppliers and purchasers.