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

On 1 October 2021, the Department for Business, Energy & Industrial Strategy (BEIS) closes its consultation on the proposed reforms targeting improved competition, increased consumer protection, as well as better enforcement by the Competition & Markets Authority (CMA) which was originally opened on 20 July 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.