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UK: New CMA reveals strict fines for uncooperative firms

By  |  January 14, 2014
UK: New CMA reveals strict fines for uncooperative firms

The New Competition and Markets Authority, set to begin operating as the UK’s new competition regulator this April, announced early this week its approach to the use of legal powers, revealing a new policy that allows the CMA to issue fines against companies that are uncooperative when being investigated by the authority.

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    The CMA announced on its website Monday announced the upcoming implementation of the Enterprise and Regulatory Reform Act, which allows the CMA to impose fines on companies investigated in merger, markets and Competition Act probes should they be uncooperative. The new authority will also have the power to limit the integration of two merging businesses before the transaction is approved.

    According to the CMA, the announcement is meant to inform the public and guide companies to offer clarity on its upcoming powers.

    Full Content: Gov.uk

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