CMA report reflects positive outcomes for consumers in 20–21 amid coronavirus (COVID—19)

CMA report reflects positive outcomes for consumers in 20–21 amid coronavirus (COVID—19)

The Competition and Markets Authority (CMA) has published its 20–21 report, which has illustrated how concurrency arrangements with regulators have assisted in the delivery of benefits for consumers amid the coronavirus (COVID-19) pandemic. The report outlines the developments which occurred throughout 2020 and considers the future of competition enforcement in the regulated sectors. Competition concerns in regulated sectors have lead to the launch of three new investigations by the CMA, the Financial Conduct Authority (FCA) and the Office of Rail and Road (ORR).

The report has highlighted:

• two fines following the CMA-led investigations into the private healthcare and financial services sectors, amounting to £19m

• The CMA’s and regulators’ responses to issues caused by the pandemic and advice to government on legislative approaches to address them, such as:

○ advising government on exclusion orders

○ publishing guidance on cooperation for UK businesses who find it necessary to liaise with competitors

• four investigations into suspected charging of excessive and unfair prices for hand sanitiser

The Annual Concurrency Report 2021 can be read here.

Source: CMA and regulators deliver for consumers in 20/21

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