The UK’s new competition regime

Important changes to the UK’s competition law regime came into effect on 1 April 2014. This article highlights the principal changes of which businesses need to be aware.

We discuss the new Competition and Markets Authority (CMA); the enforcement of competition law in regulated/utility sectors; the cartel offence, which carries personal liability for directors and employees; the merger regime; market investigations; and administrative penalties for failing to comply with a request from the CMA. Finally, we take a brief look at potential/impending changes in the sphere of competition litigation and regulatory appeals.

The major change is that the UK has a new competition law enforcement agency, the CMA. The CMA has assumed the competition law functions (and certain consumer law functions) of the Office of Fair Trading (OFT) and the Competition Commission, both of which are now disbanded. The CMA has been explicitly created in order to ensure that there is more proactive and rigorous enforcement of competition law within the UK than before. It has more extensive powers than the OFT did, including enhanced compulsory interview powers, which may be used during a dawn raid (and dawn raids are not now limited to business premises but include private houses and vehicles), and a power to impose penalties on businesses and individuals, including current and former employees, that fail to co-operate with an investigation, e.g. by the late production of documents. Furthermore, the CMA will have an increased budget and resources to undertake more investigations each year, and will work closely in conjunction with sector regulators in the UK…

Click on the link below to read the rest of the Walker Morris briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Walker Morris

View more briefings from Walker Morris

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Kings Court
12 King Street
Leeds
LS1 2HL
UK
http://www.walkermorris.co.uk

Turnover (£m): 42.50
No. of lawyers: 188