The following Risk & Compliance guidance note Produced in partnership with Michael Potts of Byrne and Partners LLP provides comprehensive and up to date legal information covering:
As of exit day (31 January 2020), the UK is no longer an EU Member State, but it has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. The UK must continue to adhere to its obligations under EU law. The Competition and Markets Authority (CMA) has issued guidance on how the UK’s exit from the EU affects its powers and processes for competition law enforcement and merger control enforcement during the transition period, towards the end of that period, and after it ends.
From 1 April 2014, the CMA took over many of the functions of the Competition Commission and the Office of Fair Trading. The CMA investigates mergers and anti-competitive practices in markets and can enforce a range of consumer protection legislation. In particular, the CMA is responsible for:
investigating mergers which could restrict competition
conducting market studies and investigations in markets where there may be competition and consumer problems
investigating where there may be breaches of UK or EU prohibitions against anti-competitive agreements and abuses of dominant positions
bringing criminal proceedings against individuals who commit the cartel offence
enforcing consumer protection legislation to tackle practices and market conditions that make it difficult for consumers to exercise choice
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