October 14, 2010
Breaking News: Merger of UK Competition Bodies Announced
Posted by D. Daniel Sokol
The Department of Business Innovation and Skills announced, "The Competition Commission (CC) and the competition functions of the Office of Fair Trading (OFT) [to be] merged to form a single competition and markets authority" in its press release today. The release further explains, "This new body would be responsible for merger regulation, market investigations, cartel and antitrust cases, as well as a number of functions with respect to the regulated utilities."
October 14, 2010 | Permalink
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Prima facie it is sensible to merge the two bodies. This appears to be part of the exercise of the new government to streamline public expenditure and also improve efficiency, and one hopes that the new bigger agency does achieve it. Furthermore, transferring consumer protection functions to specialised agency from the new merged competition agency also makes sense.
Posted by: Pradeep S Mehta | Oct 14, 2010 4:11:20 AM