I. The Competition and Markets Authority (CMA) 1. The Competition and Markets Authority (CMA) has been operational since 1 April 2014, having been established by the Enterprise and Regulatory Reform Act 2013 (ERRA) as an independent non-ministerial government department. It has assumed the functions of the Competition Commission (CC) and the competition and certain consumer functions of the Office of Fair Trading (OFT) and is responsible for antitrust enforcement, merger control, and sector-wide market investigations. 2. The Government’s rationale for establishing the CMA was to “create a single, streamlined expert competition and markets authority (…) [with] greater effectiveness and efficiency to investigate mergers, markets, cartels and anti-competitive practices.” [1] The CMA’s
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The UK Enterprise and Regulatory Reform Act enters into force, setting a new Competition and Markets Authority with procedures facilitating faster and more effective information gathering and decision-making
This article outlines the key changes made to the UK competition regime following the enactment of the Enterprise and Regulatory Reform Act 2013, which provided for the merger of the Office of Fair Trading and Competition Commission to form the new Competition and Markets Authority. The authors also comment on the potential consequences of the changes for competition enforcement in the UK.
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