Application of competition law in the markets scrutinized by sector specific independent regulatory agencies

The duties and powers of sector specific independent regulatory agencies and competition authorities may coincide in regulated markets such as energy, telecommunication, banking. Which authority to intervene in such markets has been debated both in practice and doctrine. In this thesis, we will study the application of competition law in the markets scrutinized by sector specific independent regulatory agencies. In the first section of the thesis, we will elaborate on intervention of the states to the markets. Within this scope, we will explain structural and behavioral market failures. Secondly, we will overview independent regulatory agencies, the notion of regulation and competition law. At last, we will address to the relationship between competition authorities and sector specific independent regulatory agencies. Within this scope, we will show the intersection of these two law branches, we will address to the relationship of these two branches through some legal divisions and we will mention the possible scenarios in case that sector specific independent regulatory agencies and competition authorities are authorized to scrutinize the same subject. In the second section, we will analyze how competition law is implemented in markets scrutinized by sector specific independent regulatory agencies. At first, we will handle the approaches of the European Union Commission and Federal Supreme Court of the United States of America. We will conclude that these two legal systems' approaches differ, and we will search for the reasoning of such a differentiation. Thereafter, we will handle the approach of the Turkish Competition Authority regarding the subject. In the third section, we will analyze the legal problems which complementary model in our country may lead. Within this scope, we will analyze whether this model as implemented in our country leads to contrary results to the principle of ne bis in idem and proportionality principle, contradictory decisions, review of the decisions of sector specific independent regulatory agencies and waste of time and source. Secondly, we will discuss which model is best suited to be implemented in our country to avoid the mentioned problems. Thereafter, we will explain the solutions available in Turkish legal system such as competition advocacy, cooperation protocols and possibility to file for annulment. Finally, we will state that regulating a legislation regarding the subject would be appropriate. Key Words: competition authority, regulation, sector specific independent regulatory agencies, complementarity, substitute