United Kingdom: Consultation opened regarding a variety of competition and consumer protection policy reforms as well as more power for the CMA

The Department for Business, Energy & Industrial Strategy (BEIS) opened a consultation including several reforms targeting improved competition, increased consumer protection, as well as better enforcement by the Competition & Markets Authority (CMA) on July 20, 2021. The consultation will run until October 1, 2021. Competition policy aspects include faster market inquiries, a merger control regime adapted to fast-moving markets, a more efficient CMA panel, as well as more effective enforcement against unilateral conduct and in general across all three pillars of competition law. Consumer rights protection will also be increased to combat "subscription traps", fake reviews and consumers using means of prepayment. Other manipulative nudging techniques will also be targeted in the regulation. Finally, the CMA is empowered to fine companies disregarding consumer protection law with up to 10% of global turnover as part of a wide variety of improved enforcement of consumer law.