EU officials have blamed recent court defeats for the massive shake-up, which is likely to alter the relationship between companies and the European Commission.
Some EU officials criticised the commission for presenting sloppy evidence and faulty theories in court. They argued the excessive power and independence of the merger task force caused the court cases.
The task force has been accused of arrogance and inflexibility by several companies, including General Electric and Honeywell, whose £26.8bn merger was barred in 2001. Tour operator MyTravel last week said is seeking some £200m in damages from the EC for the blocked takeover of First Choice Holidays in 1999.
The EU merger control reforms will pass power to scrutinise mergers to four European Commission units that are currently overseeing antitrust issues. They will start perusing mergers this year in parallel with the task force.
The units cover communication, services, basic industries and consumer goods. They will employ some 80 staff by the time they are fully operational in 2004.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.