CMA publishes decision in strategic review of market remedies
Decision focuses on whether remedies remain appropriate and continue to deliver benefits.
- Removal of 23 remedies reduces unnecessary burdens on businesses.
- The CMA is continuing to consider consultation responses for 2 remedies relating to retail banking and private motor insurance.
The Competition and Markets Authority (CMA) has today published its final decision on 31 market remedies to ensure they remain appropriate and focused on delivering benefits for consumers, businesses and the UK economy.
The review looked at 33 existing market remedies that the CMA identified may no longer be needed to deal with problems they were designed to fix, for reasons including being superseded by new laws and regulations.
Remedies play an important role in improving competition, but businesses need to dedicate resources to comply with them and the CMA or other bodies must monitor them – so it is important to assess whether they are still needed and whether they are the best use of resource.
Following consultation on its provisional decision published in August, the CMA has confirmed its decision to remove 23 remedies, to remove 2 remedies in part and retain 6 remedies.
The CMA is continuing to consider the consultation responses received on whether to partially remove 2 further remedies – the Retail Banking Market Investigation Order and the Private Motor Insurance Market Investigation Order – given the range of views received. An update on these will be published later this month.
The final decision forms part of the CMA’s commitment to ensuring that market remedies continue to address the competition concerns they were designed to address, while removing requirements where they are no longer needed.
More information can be found on the case page.
For media enquiries, contact the CMA press office.
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