What is venture capital, how does it work, and what are the risks?
In the third and final episode demystifying private equity, we explore the world of venture capital. While venture capital has delivered exceptional returns for some investors and founders, it’s also very high risk. So, is vibrant venture capital essential for economies seeking to boost innovation and drive productive growth? In… Read More
Measuring and inferring anticompetitive effects from an exchange of information
In four rulings1 dated 3 November 2025, the Spanish National Court overturned the Decision of the Comisión Nacional de los Mercados y la Competencia (CNMC) in case S/DC/67/17 Tabacos2 (‘the Decision’). These four rulings are significant because they close one of the first cases that the… Read More
Decoding the Digital Networks Act: the future of the EU electronic communications and digital infrastructure regulatory framework
On 21 January 2026 the European Commission published the long-awaited draft of its Digital Networks Act (DNA)—the proposed new regulation that seeks to ‘modernise, simplify and harmonise EU rules on connectivity networks’.1 As the draft is now being reviewed by the European Parliament and the Council, representing the… Read More
Oxera AI Policy Map – January 2026
For this third edition of the AI Policy Map,1 we have updated our database that tracks key national and supranational AI policy developments across the European Economic Area (EEA) and the UK. This curated collection brings together legal texts, strategy documents and other influential publications relevant to the… Read More
What’s holding back European defence and how can governments respond?
Since the end of the Cold War, Europe has enjoyed a ‘peace dividend’ driven by a reduced perception of military threat. Recent developments — including Russia’s invasion of Ukraine — have fundamentally altered this landscape. Europe now faces a hostile military power on its eastern border, while questions remain over… Read More
The new electronic communications and digital infrastructure regulatory framework: what does the economic evidence say? (Part 2 of 2)
On Thursday 23 October in Brussels, Oxera hosted a roundtable discussion entitled ‘The new electronic communications and digital infrastructure regulatory framework: what does the economic evidence say?’. In the second of a two-part series, we share insights from this productive debate. The discussion took place in the context of an… Read More
The new electronic communications and digital infrastructure regulatory framework: what does the economic evidence say? (Part 1 of 2)
On Thursday 23 October in Brussels, Oxera hosted a roundtable discussion entitled ‘The new electronic communications and digital infrastructure regulatory framework: what does the economic evidence say?’. In the first of a two-part series, we share insights from this productive debate. The discussion took place in the context of an… Read More
The changing role of European competition policy: past, present and future
Over the past decade, the scope of European competition policy has expanded significantly beyond its traditional focus on cartels, mergers, abuses of dominance and state aid controls. Today, it is increasingly expected to contribute to broader policy objectives, including ensuring fair digital markets, supporting sustainability, resilience and strategic sovereignty, and… Read More
RIIO-3 Final Determinations
On 4 December 2025, Ofgem published its Final Determinations (FDs) for the upcoming RIIO-3 price control lasting from April 2026 to March 2031 for the electricity transmission (ET), gas transmission (GT), and gas distribution (GD) sectors.1 For electricity, Ofgem’s priority has been the delivery of the infrastructure, ‘to… Read More
Fragmentation, competition and the EU CSD landscape
There is growing attention from policymakers on the design and functioning of the market for central securities depository (CSD) services in the EU.1 This is an important debate with implications for investment and the real economy. The efficiency of trading and post-trading services affects overall execution costs for… Read More