Key data
| Regulation | Council Decision (EU) 2026/2304 of 9 October 2026 — CELEX:32026D2304 |
|---|---|
| Publication | 19 October 2026 |
| Entry into force | 9 October 2026 |
| Affected parties | Companies operating in EU and UK markets simultaneously; competition authorities of both jurisdictions |
| Category | European Regulation |
| Year | 2026 |
| Bodies involved | European Commission and Competition and Markets Authority (CMA) of the United Kingdom |
If your company operates in both European and UK markets, the rules of the game on competition have just changed. The Council Decision (EU) 2026/2304, approved on 9 October 2026, formalizes a bilateral agreement between the European Union and the United Kingdom to coordinate the application of their respective competition regulations. It is the first major step of regulatory normalization between both powers in the economic sphere since Brexit.
What were previously two independent processes—one before the European Commission, another before the Competition and Markets Authority (CMA)—can now become a coordinated action. This has direct consequences for any company that has notified or may notify a merger, or that is under antitrust investigation in either territory.
What does this regulation establish?
The agreement establishes three concrete operational mechanisms between the European Commission and the CMA:
| Mechanism | What it consists of |
|---|---|
| Mutual notification of investigations | When one authority opens a file that may affect the territory of the other, it must notify it. This eliminates the possibility of acting in parallel without mutual knowledge. |
| Information exchange | Both authorities can share data and relevant information on cases affecting both jurisdictions, within applicable legal limits. |
| Coordination of actions in parallel proceedings | In cases where both authorities investigate the same company or concentration, they can align schedules, requirements and conclusions to avoid contradictory decisions. |
The agreement is particularly relevant in two areas: antitrust investigations (abuse of dominant position, cartels) and merger control (mergers and acquisitions exceeding notification thresholds in both jurisdictions). Before Brexit, the European Commission was the single window for operations of Community dimension. Since 2020, companies with presence in both markets have had to manage two separate processes. This agreement does not eliminate that duality, but makes it more predictable and coordinated.
Economic and operational impact
The impact is not a new fee or direct sanction, but it does have real economic and operational consequences for affected companies:
- Greater combined regulatory exposure: An investigation opened by the CMA can now more easily reach the knowledge of the European Commission, and vice versa. Companies must assume that any file in one jurisdiction can have repercussions in the other.
- Reduction of the risk of contradictory decisions: Until now, a merger could be approved in the EU and blocked in the UK (or with different conditions). Coordination reduces this uncertainty, which is positive for corporate transaction planning.
- Greater efficiency in cross-border M&A processes: The coordination of schedules and requirements can shorten total review times in operations requiring approval in both jurisdictions.
- Potentially higher legal costs: Coordination between authorities means that investigated companies must simultaneously manage two aligned proceedings, with the legal advisory costs that this entails in two different legal systems.
- Post-Brexit regulatory normalization: The agreement is an indicator that EU-UK relations in the economic-regulatory sphere are stabilizing, which reduces structural uncertainty for companies with long-term strategy in both markets.
Who does it affect?
- Companies with simultaneous presence in the EU and the UK that may be subject to antitrust investigations in either jurisdiction.
- Business groups planning mergers or acquisitions with sufficient dimension to require notification to both the European Commission and the CMA.
- Companies in sectors with high regulatory surveillance on competition matters: technology, telecommunications, pharmaceutical, energy, distribution and consumer goods.
- Legal and compliance departments of multinationals with operations in both markets.
- Legal advisors and M&A consultants managing cross-border EU-UK transactions.
- CFOs and corporate strategy executives evaluating acquisitions or restructurings with impact on both territories.
Practical example
Imagine a Spanish food distribution company that acquires a British supermarket chain. The transaction exceeds notification thresholds in both the EU and the UK, so it must be notified simultaneously to the European Commission and the CMA.
Before this agreement: both authorities investigated independently, with different schedules, separate information requirements and possibility of reaching contradictory conclusions (for example, the Commission approves with conditions and the CMA blocks).
With the agreement in force since 9 October 2026: the Commission and the CMA notify each other of the opening of the file, can exchange relevant information and coordinate their review schedules. The result is a more predictable process for the company, but also more exposed: any information provided in one jurisdiction can be known by the other authority.
The company will need to have legal teams specialized in competition law in both the EU and the UK, and assume that the defense strategy must be coherent on both fronts from day one.
What should companies do now?
- Review your regulatory exposure map: Identify whether your company operates in EU and UK markets simultaneously and whether your market share or activity could attract the attention of competition authorities in either jurisdiction.
- Update cross-border M&A protocols: If you have ongoing or planned merger or acquisition operations affecting both markets, review with your legal team whether notification thresholds are exceeded in both jurisdictions and how the new coordination affects the timeline and strategy of the process.
- Align defense strategy in parallel proceedings: If your company is under antitrust investigation in the EU or the UK, inform your legal advisor that the other authority may be notified and informed. Consistency between positions adopted in both proceedings is now more critical than before.
- Train compliance teams: Legal and compliance departments must understand the new cooperation mechanisms to anticipate scenarios of coordinated double investigation.
- Monitor the regulatory development of the agreement: The agreement establishes the general framework, but the concrete procedures for information exchange and coordination may be developed through guidelines or additional protocols published by the European Commission or the CMA. Stay up to date through EUR-Lex and the official CMA website.
Frequently asked questions
Since when is the EU-UK competition cooperation agreement in force?
The agreement entered into force on 9 October 2026, the date of the Council Decision. It was published in the EU Official Journal on 19 October 2026 under the reference CELEX:32026D2304.
What information can the European Commission and the CMA exchange about my company?
The agreement allows the exchange of relevant information on cases affecting both jurisdictions. This includes data from antitrust investigations and merger control proceedings. The exchange is subject to applicable legal limits in each jurisdiction, including confidentiality rules.
Does this agreement affect mergers and acquisitions already in progress?
Yes. The agreement has been in force since 9 October 2026, so any M&A transaction notified or under review from that date before the European Commission or the CMA may be subject to the new coordination and mutual notification mechanisms between both authorities.
Does this agreement eliminate the need to notify separately in the EU and the UK?
No. The agreement does not create a single window. Companies exceeding notification thresholds in both jurisdictions remain obligated to notify separately to the European Commission and the CMA. What changes is that both authorities can coordinate their actions and share information during the process.
Which sectors have the greatest risk of being affected by coordinated EU-CMA investigations?
The sectors with the highest regulatory surveillance on competition matters in both jurisdictions are: technology and digital platforms, telecommunications, pharmaceutical, energy, distribution and consumer goods. Companies in these sectors with significant presence in the EU and the UK should pay special attention to this new cooperation framework.
Official source
Consult full regulation in official source
Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://eur-lex.europa.eu/./legal-content/AUTO/?uri=CELEX:32026D2304
