Competition and Markets Authority
The Competition and Markets Authority is the competition regulator in the United Kingdom. It is a non-ministerial government department in the United Kingdom. It has to strengthen business competition and stop or reduce anti-competitive activities. It started on 1 October 2013 and started properly on 1 April 2014. It took over from the Competition Commission and the Office of Fair Trading, which were closed.
It had a budget of more than £130 million in 2022-23.
It can stop companies merging or taking over other companies. A new law in 2023 will give it more powers to set rules for technology companies with particularly large influence over certain sectors like search or social media. Companies can be fined for breaking their rules.[1]
References[change | change source]
- ↑ Espinoza, Javier; Beioley, Kate (2023-09-19). "The newfound influence of the UK's competition watchdog". Financial Times. Retrieved 2023-09-19.