The Research On The Information Disclosure Mechanism For Merger Remedies

It is the information disclosure of the antitrust remedies in the concentration of undertakings that plays a vital role in the antitrust remedies operation system. Nowadays, in the process of information disclosure of the antitrust remedies in the concentration of undertakings in China, there are problems such as over-simplicity of the explanation in the notices, imbalance between the requirement for information disclosure and trade secrets protection, information insufficiency during the following relief cases and other flaws contribute to the negative result. If left unsolved, a bunch of consequences will emerge, for instance, the public’s right to know, participation rights, supervision rights cannot be well-protected; misconduct and corruption will spring out; the conflicts between the trade secrets protection and the public right to know cannot be relived; the remedies measures cannot be fully supervised and enforced. Globally, the European countries and the US are most experienced in the antitrust remedies to the concentration of undertakings, who accumulate advanced knowledge in the antitrust remedies information disclosure, like detailed disclosure of information, emphasis on the interest balance and entire process of disclosure. Taking western experience as reference and combining the local situation, China shall follow the principle of interest balance, reality, completeness, timeliness and intelligibility. We should also construct a transformed information disclosure mechanism, which features diversity of the obligors, classification of the disclosure objects, detailed content of the disclosure, explicit range of the disclosure, entire process of the disclosure, standardization of the disclosure process, interaction of the disclosure methods and diversity of the disclosure patterns. The purpose is to improve the transparency of the antitrust law enforcement; protect the public right to know, participation rights, supervision rights; and reinforce the impartiality and predictability of the antitrust law enforcement; and promote the effective implementing of China’s antitrust law.