The CMA’s Role Post Brexit

The UK’s government has confirmed that the UK will enter a transition period until the end of December 2020, following its departure from the EU on January 31, 2020.

At the end of that transition period, on January 1, 2021, the Competition and Markets Authority (CMA) is expected to take on responsibility for larger and more complex merger, cartel, and competition enforcement cases that were previously reserved to the European Commission.

During the transition period, the CMA will continue working as it always has and will not take on new or additional responsibilities until the transition period ends.

The CMA has published guidance to explain how it will conduct its work during the transition period as a result of the UK’s exit from the EU.

The CMA will continue the extensive preparations it has had in place since the referendum result in June 2016 to ensure it is ready for its enhanced role from January 2021, along with the opportunities and challenges this important time will bring.

Throughout the transition period, the CMA will continue working closely with the government and key stakeholders to ensure it is in a strong position to conduct the larger and often more complex merger, cartel and competition investigations previously undertaken by the European Commission.

The CMA will also continue working productively with the European Commission and other competition authorities to ensure a smooth transition that protects people across the UK, by ensuring that competitive markets work in their favor.

Andrea Coscelli, CMA Chief Executive, said, “The year ahead will be one of profound change for the country. The CMA has been planning extensively for the UK’s departure from the EU, and we are ready to assume our new responsibilities at the end of the transition period.

“As we take on a more active role in global cases from January 2021, we are determined to be a robust champion for competition and for UK consumers.”

Full Content: Gov UK

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.