If the amount of fines is lower this year, “we have many cases in our pipeline,” warned Benoît Cœuré, the president of the Competition Authority, former number 2 at the European Central Bank.
The French institution imposed 167 million euros in fines in 2023, a total down significantly compared to the 467.9 million sanctions for 2022 and the 873.7 million for 2021.
“This amount is lower than in previous years but is not a sign of a drop in activity” of the French competition watchdog, assured Benoît Cœuré in a greeting speech delivered Thursday and broadcast Friday on the X network by the Authority.
I presented the wishes of the Competition Authority @Adlc_ to economic players and its institutional partners, an opportunity to look back on a very rich activity in 2023 and to outline some perspectives.
▶️ read my intervention: https://t.co/CEngH4Anx3
— Benoît Cœuré (@BCoeure) January 19, 2024
“The sanctions imposed in a given year reflect the coincidences of the calendar” since they are “often the result of procedures initiated several years previously”, he further argued.
“We have many cases in our
pipeline
which will give rise to important decisions in 2024,” he added.
37 contentious decisions were rendered in 2023 and the Authority took 266 merger control decisions, compared to 257 in 2022, detailed its president.
Also read: Green light from the Competition Authority for the acquisition of OCS by Canal +, under conditions
For 2024, the institution intends to publish an opinion in the spring on electric vehicle charging infrastructures and wants to better understand the issues linked to artificial intelligence (AI).
“Artificial intelligence, in particular generative AI, occupies an increasing share of discussions between competition authorities,” he explained.
It “is bursting into a landscape already dominated by powerful players, who master or even control its essential ingredients: data, computing capacity, cloud services in particular.
»
“An incentive to innovate”
“We simply cannot accept that artificial intelligence is dominated by 3 or 4 players in the world,” he insisted to economic players and institutional partners of the Authority.
“Already”, “search and seizure operations in the graphics card sector” have been carried out by the general rapporteur of the competition watchdog.
Benoît Cœuré finally “welcomed” the intention of President Emmanuel Macron and Minister of the Economy and Finance Bruno Le Maire “to prepare Act
II
of a law for growth and activity”, after that of 2015.
"France will be stronger if it produces more", believes @EmmanuelMacron, who wishes to "remove standards, reduce deadlines, facilitate hiring. I call on the government to bring in Act II of a law for growth, economic activity and opportunities.
pic.twitter.com/96WSmF7WNQ
— Public Senate (@publicsenat) January 16, 2024
“For the French economy to regain its dynamism, so that it can face technological and climatic challenges, it is essential to maintain intact the desire to fight against rents and to ensure, through competition, an incentive to innovate.
In 2024, the Authority will be a force for proposals on these subjects,” he said.