Why harmed consumers may be more satisfied in the future – the CMA’s new redress scheme* In an earlier blog post I wrote about the new opt-out collective action regime introduced by the Consumer Rights Act 2015. This is not the only measure that is to help consumers and other injured parties to obtain compensation for the violation of EU and UK competition law. The new sections 49C-49E of the Competition Act 1998 provide powers for the Competition and Markets Authority (CMA) to approve voluntary redress schemes. This blog post considers whether these are a welcome innovation. The redress scheme in brief Under the redress scheme, ‘a person’, i.e. a company that has infringed competition law, may apply to the CMA for approval of a redress scheme during or after the public investigation
The UK Parliament provides powers for the Competition Authority to approve voluntary redress schemes
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