The U.S., Australia, Canada, New Zealand, and the U.K. have signed an agreement to share information about competition laws and policies, with a focus on coordinating cases and investigations spanning international borders. Google and Facebook aren’t going to like this.
The Multilateral Mutual Assistance and Cooperation Framework for Competition Authorities technically isn’t legally binding, and is predominantly constructed by intention and expectation. Any party can withdraw at any time, with no enforceable obligation for anyone to do anything.
However, involved agencies have concurred that the agreement will strengthen existing cooperation arrangements, as well as provide a base framework for further collaboration.
