LONDON, Jan. 19 -- The government of the United Kingdom issued the following news:
The Competition and Markets Authority (CMA)islaunchinga reviewofa number ofexistingmarketremediestodeterminewhether they arestillrequired,in a bidto easetheburdenonthousandsofbusinesses.The remedies under review coverseveral sectors including financial services,traveland energy.
Market remedies are designed to fix competition problems identified during market investigations. They play an important role but businesses need to dedicate money and resources to comply with them, so it is important remedies remain fit for purpose.
The CMA excluded remedies from the review that are clearlycontinuingto deliver impact, includingmeasures aimed at makingsurefamilies have all the information they need when seeking funeral servicesandreforms to help households and small businesses on expensive energy tariffs get better deals.
However, theCMAhasidentified33market remedies(60% ofall marketremedies in place)which may no longer beneeded todeal with problems they were designed to fix.Theycould, for example,have beensupersededbynewlaws and regulationsortechnological advancesthathavetransformedhow consumers buygoodsand services.
For example, the CMA is considering whether to remove remedies relating to themarketing practices of large travel businessesthat were introducedoveradecade ago,at a timewhen most travel was booked in-store, which would reduce compliance costs for thesecompanies. Major retail banks could alsobenefitfrom scrapping rules aroundproviding payment transaction histories to customerswhich they can now easily access online.
SarahCardell, Chief Executive of the CMA, said:
Remediesare vital forprotectingconsumersandensuringfair competition, but they also place demands on businesses.
That'swhythisreviewwill ensure only those remedies delivering real impact remain in place-in line with thetransformation we have made over the last year to deliver our work with pace, predictability,proportionalityand enhanced process.
Removing unnecessary barriers for businessessavestime and money andensuresthe competition regime contributesto the UK's reputation as a great place to do business and invest.
Aconsultation will now take placeuntilMonday2 March2026.For more informationabout each remedyunder review, visittheconsultation page.The CMA alsorecentlylaunched a consultation on therelease 37 mergers remedies.
Notes to editors
* Media enquiries should be directed to press@cma.gov.uk or 020 3738 6460.
Disclaimer: Curated by HT Syndication.
