The Competition and Markets Authority was officially launched Tuesday in a major step for the overhaul of the UK’s competition regime.
The CMA, which combines the powers of the Office of Fair Trading and the Competition Commission, will not officially begin its regulatory duties until next April. But Tuesday’s launch of the body will allow the CMA to make preparations in assuming those powers in 2014.
In its first order of business, the CMA revealed its proposal for vision, strategy and values, which outlined the regulator’s five goals:
- deliver effective enforcement
- extend competition frontiers
- refocus consumer protection
- Develop integrated performance
- achieve professional excellence
A press release described Tuesday’s entrance as a “shadow launch.”
At a launch event, Competition Minister Jo Swinson said the new regime is “determined to ensure that the CMA has the strong powers, guidance and resources it needs to create a competition regime that is both strong and streamlined.”
CMA Chairman David Currie also spoke at the event, introducing the new regulator as one that plans “to be a leading competition and consumer agency.”
Click here to read the CMA’s full Vision, Values and Strategy report
Full Content: 4-Traders
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI