United Kingdom: CMA response to consultation on Competition and Consumer Policy reform

The Competition and Markets Authority (CMA) publishes its response to the Consultation on Competition and Consumer Policy reform that was published by the Department for Business, Energy & Industrial Strategy (BEIS) and which closed on 1 October 2021. Across the Consultation, the government is proposing a package of legislative reform proposals, and areas for further consideration, that aims to promote fair, open and competitive markets, the interests of consumers as well as those of fair-dealing businesses wishing to enter markets, grow their businesses and compete with large incumbents. The CMA in particular 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. In its response, The CMA welcomes the UK Government's commitment to reforming Competition and Consumer Policy as well as its decision to bolster the powers of the CMA.