The Competition and Markets Authority (CMA)
What is the Competition and Markets Authority (CMA)?
The Competition and Markets Authority (CMA) is an independent non-ministerial government department responsible for promoting competition and preventing the anti-competitive conduct of businesses in the United Kingdom. CMA was formed in April 2014, succeeding the Office of Fair Trading (OFT), the Competition Commission, and the Consumer and Markets Authority. The CMA Chairman is appointed by the Queen on the recommendation of the Prime Minister and Secretary of State. The CMA Board consists of 12 members, including the Chairman and Chief Executive. The CMA Board is responsible for setting the CMA's strategic direction and ensuring that the CMA delivers its objectives effectively and efficiently.
What are the CMA's objectives?
The CMA's objectives are:
- To promote competition in the United Kingdom for the benefit of consumers.
- To prevent and remedy anti-competitive conduct, including cartels and abuses of market power.
- To protect consumers from unfair treatment and ensure that they have a voice in the markets where they operate.
What are the CMA's powers?
The CMA has a range of powers to investigate and enforce competition law. These powers include:
- The power to carry out investigations into suspected anti-competitive conduct.
- The power to issue fines for anti-competitive conduct.
- The power to break up companies that have been found to be anti-competitive.
- The power to impose other remedies, such as requiring companies to change their behavior.
How does the CMA work?
The CMA's work is divided into two main areas:
- Competition enforcement: The CMA investigates suspected anti-competitive conduct and takes enforcement action where appropriate.
- Market studies: The CMA conducts market studies to identify and address competition problems in specific sectors of the economy.