Market studies and investigations - guidance on the CMA’s approach: CMA3
Explains the changes introduced by the Enterprise and Regulatory Reform Act 2013 to the conduct of market studies and market investigations by the CMA under the Enterprise Act 2002, as amended.
Ref: CMA3 PDF, 786KB, 46 pages
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This guidance is aimed at businesses and their advisers on the changes to the markets regime introduced by the Enterprise and Regulatory Reform Act 2013 (ERRA13).
It also outlines the legal framework that applies to market studies and market investigations, including the roles of the CMA, the Secretary of State, and sectoral regulators.
The fines that could be imposed on summary conviction for certain criminal offences referred to in this document were, at that time, subject to specific caps of £5,000 or above. With effect from 12 March 2015, these caps have been removed and those specific offences are now punishable by a fine of any amount. For more information see the Ministry of Justice news story.
Details of the changes made to this guidance in September 2015 can be found in the amendments notice.