Typically, competition and regulatory work includes merger control under the Enterprise Act 2002 or the EC Merger Regulation, proceedings under the Competition Act 1998, issues arising from sector specific regulation, state aid, public sector and utility procurement issues.

In addition to the main UK legislation, UK companies must also comply with the relevant EU rules which apply directly to their conduct. There has been significant reform of both UK and EU competition law and practice in recent years and further reform proposals are currently being considered. An interesting recent development in the United Kingdom has been the introduction of a cartel offence giving rise to liability for individuals, rather than just businesses; this adds an important new criminal dimension to competition law work. Private competition law actions are a particular area to watch, with both the UK and EU authorities keen to foster such actions.

Katie Herald is a senior assistant at Travers Smith, a mid-tier City firm. She read modern history at the University of Oxford, and the GDL and LPC at BPP in London. She explains: “It was on the LPC as part of one of my electives that I had my first taste of competition law. There wasn’t that much scope for doing extensive amounts of competition law but it was sufficient to flag it as an area of law I definitely wanted to come back to.”

Katie went on to do her training contract at Travers Smith. Her seats comprised litigation, corporate, property and also, of course, competition. In addition to picking up experience in these practice areas, Katie learnt that she needed “a great eye for detail” and the ability to communicate “in a client-friendly way”.

These are the things it can be difficult to pick up at law school, comments Katie: “I think when you come from the legal hothouse of law school you can forget the practicalities of having to be commercial. You can know the letter of the law backwards but unless you can communicate that effectively to clients in a way that’s going to help them with their business or transaction, it’s of very limited use to them.”

Katie recalls what it was like to do a seat in competition: “I was fully involved in many aspects of the work from the outset. For example, I worked closely on a UK merger of two franking machine businesses in the run-up to it being referred to the Competition Commission. As you can imagine, there was a lot of complex work to do within a pressured timetable and I learnt a great deal by being part of the team preparing the merger control filing.” Katie notes that generally the type of work she does as a qualified competition lawyer has not changed that much from when she was a trainee: “Clearly I have a higher level of responsibility and independence, but the types of work are broadly the same.”

Indeed, Katie has a lot of work on her plate: “As part of my work relates to M&A deals, a typical day might include hearing about a new corporate deal and analysing whether merger control filings are required; drafting a filing to the European Commission or the Office of Fair Trading; and, as we often act on cross-border transactions, coordinating multi-jurisdictional filings by liaising with foreign lawyers. Another key area of work is behavioural competition law – for example, we draft submissions to authorities that are investigating clients for alleged breaches of competition law and review draft commercial agreements for compliance with competition law.”

Skills from Katie’s history degree often come into play during her daily work. Drafting submissions to merger control/competition authorities is a bit like writing a history essay, she notes: “You’re setting out the facts and legal and economic principles on which you then base your arguments – in essence, it’s being persuasive on paper.”

Competition is a dynamic area of law. Katie explains: “In recent years, there has been a significant amount of new legislation and guidance from the European Commission and UK authorities, including of course the Enterprise Act in the United Kingdom. And there is certainly a great deal of scope for ongoing discussion within competition circles about the best way to develop the legal and practical framework for competition law – it is fascinating to be a part of this.”

With competition being such a growing area of law, Katie gets to see a number of exciting cases: “Recently, I’ve been acting for Red Bee Media in relation to Ofcom’s investigation into its access service contracts with Channel 4 and the BBC. After a long-running investigation that started almost two years ago, Ofcom has just announced its non-infringement and case closure decisions in favour of my client.”

Katie explains what she enjoys most about being a solicitor: “Appreciative clients! Particular to competition law, there’s also the satisfaction of successfully achieving clearance or the desired outcome at the end of a long investigation.” The insight gained into clients’ businesses is also rewarding: “Competition lawyers often need very detailed market information. We work closely with the client and get to know its business, whether it’s radio, gas, carpets or ports. It’s interesting to apply the same legal framework to a wide variety of market sectors and also valuable to come to understand a client’s business that well.”

Sometimes it’s easier said than done, as Katie explains: “It can prove difficult convincing a client that you really do need that in-depth information – you can be met with initial consternation at the other end of the phone! That said, with the growing profile of competition law, I do think that clients are increasingly aware of its importance, and also the risks of non-compliance. The possibility of a fine of up to 10% of worldwide turnover is usually enough for clients to take it seriously!”

Law students interested in competition should try to do a competition module, advises Katie. If that’s not possible, “make sure you choose an elective on the LPC that covers competition, just to give you a taste. If you have the opportunity and the language skills, another possibility would be to do a stage with the European Commission”.

Katie looks back over her path to competition law and mentions that she deliberated for a long time before taking the plunge into a legal career: “I’d like to have been saved the angst, and known that this many years on I’d still be practising law and enjoying it.”