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James Marshall advises on all aspects of competition law and sector regulation and regularly counsels clients on merger control, investigations and enforcement, commercial deals, abuse of dominance, sector regulation, and compliance. Earlier in his career, Mr. Marshall worked with the UK Competition and Markets Authority (CMA), where he helped develop the UK’s antitrust and regulated sector enforcement regimes. Clients turn to Mr. Marshall to help them find innovative solutions to complex antitrust enforcement, merger and counselling matters, particularly in regulated sectors.
Mr. Marshall represents clients before UK, EU, and global regulators across a number of industries and has particular expertise in the infrastructure, energy, transport and utilities sectors. He has also advised on numerous complex global financial services cases, and has strong experience advising in the consumer, digital, communications, and sports sectors.
Mr. Marshall practiced for several years in the Asia-Pacific region. He has experience advising on competition, regulatory, and public policy issues in Asia and the Middle East. He currently serves as Chair, Competition Section Advisory Committee of the Law Society of England and Wales. Mr. Marshall is recommended in multiple categories by Legal 500 and is recognized as a Future Leader by Who’s Who Legal.
- Advised a global investment bank on several international antitrust investigations into foreign exchange trading.
- Advised a major transport infrastructure operator on a UK antitrust investigation, which ultimately resulted in negotiation of a favorable settlement for the client.
- Advised a global financial services client on the Trans-Atlantic aspects of an investigation into SSA Bond trading.
- Advised a global financial services client on EU and global merger clearances for several renewable energy acquisitions.
- Advised one of the world’s largest soft commodity traders on the EU and global merger control aspects of multiple acquisitions.
- Advised a regulated telecommunications operator on multiple antitrust and regulatory issues, including representing the client on a ground-breaking enforcement investigation by Ofcom, the UK telecoms regulator.
- Advised a major transport infrastructure operator on various antitrust, regulatory and strategic matters including antitrust enforcement investigations and judicial review litigation.
- Advised a leading European rail business on the EU and national merger control aspects of multiple acquisitions.
- Advised a number of hotel operators in relation to the antitrust aspects of the contractual arrangements with various global online travel agents.
- Advised a regulated energy network operator on various competition and regulatory compliance issues, including designing and implementing a bespoke dawn raid policy.
- Advised a global energy business in relation to the merger control aspects of a number of acquisitions.
- Advised a digital gaming business on the UK CMA consumer enforcement investigation into online gambling.
- Advised a leading water company on various antitrust and regulatory issues, including price control, product pricing, industry reform and Ofwat enforcement investigations.
- Advised an e-commerce business on the antitrust and geo-blocking aspects of various European distribution contracts.
- Advised the London branch of a major Japanese bank on various antitrust compliance issues.
Memberships and Affiliations
- Chair, Competition Section Advisory Committee of the Law Society of England and Wales
The UKs new National Security and Investment regime and the life sciences sector
February 24, 2021, BioIndustry Association Webinar
James Marshall is a speaker at a Webinar hosted by the BioIndustry Association on the UK's new National Security and Investment (NIS) Bill and the impact on the life sciences sector.
February 11, 2021, Covington Alert
On February 3, 2021, the UK Government’s Department for Business, Energy & Industrial Strategy announced plans to consult on the creation of a new national subsidy control system. This is an important Consultation as State Aid Rules were one of the three final issues that held up the agreement of the EU-UK Trade and Cooperation Agreement (TCA). In this alert, ...
Covington's London Public Company Practice Closes a Strong Year of Life Sciences Transactions
January 25, 2021
LONDON–Covington’s London corporate team has advised AIM- and Main Market-listed clients on multiple fundraisings and acquisitions over the past few months, marking a strong year in life sciences transactions. These include: Advising Sensyne Health plc, a UK clinical AI company listed on the London AIM market, on its £27.5 million equity fundraising The ...
January 2021, Covington Guide
The EU-UK Trade and Cooperation Agreement (EUTCA) reached on December 24th is a wide-ranging and complex agreement. Our Brexit Task Force offers these "bite-sized" recordings to give a snapshot of what you need to know in each area. Though the EUTCA provides the overall architecture of the future relationship in a number of areas, much of the detail must still ...
December 14, 2020, Covington Alert
The UK Supreme Court has ruled in favour of Walter Merricks, the former head of the UK Financial Ombudsman Service, in a hotly-anticipated judgment in the first opt-out competition class action brought in the UK. Background Mr Merricks is the proposed class representative for 46.2 million people who, between 22 May 1992 and 21 June 2008, purchased goods and/or ...
November 12, 2020, Covington Alert
The UK government has published long-awaited draft legislation that, if made law, will introduce significant new powers to scrutinise Foreign Direct Investment (“FDI”). The National Security & Investment Bill (the “NSI Bill” or the “Bill”), is proposed to introduce mandatory filing obligations and pre-clearance requirements for all transactions in the most ...
October 26, 2020, Covington Alert
Recent press coverage reports that 2020 has seen a significant drop-off in enforcement activity by the UK’s financial services regulator, the Financial Conduct Authority (the “FCA”) with new enforcement cases against companies down 76 percent and a number of open cases now closed. However, this will likely be a temporary shift only as the FCA pivots to meet the ...
Merger Enforcement
October 5-6, 2020, Panelist, 14th Annual Global Antitrust Enforcement Symposium
September 14, 2020, Covington Alert
The EU Regulation on Foreign Direct Investment (2019/452) (the “EU FDI Regulation”) will enter into force fully on October 11, 2020. Most notably, on this date, a cooperation and information sharing mechanism among Member States and the European Commission in respect of foreign direct investment (“FDI”) that has an “EU-dimension” will come into effect.
Recent Developments in Merger Control
September 8-9, 2020, Advanced EU Competition Law, London - Digital Conference
UK expands public interest merger review powers
June 22, 2020, Global Competition Review
James Marshall spoke with Global Competition Review about a new law in the UK that will review and block foreign takeovers that would otherwise threaten its ability to deal with public health emergencies. Mr. Marshall says the proposals “reflect a rapid uptick in foreign investment control across Europe” since the start of the coronavirus pandemic.
UK Government Appears Ready to Bring Forward Legislative Proposals for More Rigorous FDI Screening
June 4, 2020, Covington Alert
The UK has, in recent years, been one of the most attractive and open climates for foreign direct investment (“FDI”). Whilst the UK’s net FDI inflows have fallen significantly since 2016, it remains, as of 2018, one of the highest ranked countries in the world by FDI inflows. However, the UK Government’s power to scrutinise and intervene in FDI transactions ...
March 31, 2020
LONDON—James Marshall has joined Covington’s Competition Practice in London as a partner. Mr. Marshall advises on all aspects of competition law and sector regulation and regularly counsels clients on merger control, investigations, commercial deals, abuse of dominance, and compliance. He is recommended by Legal 500 in multiple categories and is recognized as a ...
October 2018, PLC Magazine
- Legal 500 UK, EU and Competition, Next Generation Partner (2020)
- Legal 500 UK, Projects, energy and natural resources - Water (2020)
- Who’s Who Legal, “Future Leader” (2019)
- Legal Week, Litigation Rising Star (2016)