The CMA has today opened a consultation on draft guidance on its power to approve redress schemes offered in competition cases.
The Consumer Rights Act 2015 is expected to come into force in October 2015, and it will give parties to competition investigations who have breached the law the power to submit a voluntary redress scheme to the Competition and Markets Authority (CMA) for approval.
It is intended that in appropriate cases this new power will make it easier for parties to provide, and consumers and businesses to gain access to, redress where harm has been caused by a competition infringement.
The CMA is now seeking the views of interested parties on the draft guidance it has on the operation of this new power.
The consultation will run for 4 weeks, from 2 March to 29 March 2015. A final version of the guidance, taking into account consultation responses received, will be published in due course.