UK competition authority removes 23 market remedies

Sole source: The UK Competition and Markets Authority (CMA) has confirmed its final decision to remove 23 market remedies, remove 2 in part and retain 6. Market remedies are requirements intended to address competition problems; the CMA says removing them reduces the obligations on affected businesses.

The decision follows a consultation on a provisional decision published in August. The CMA said the review covered 33 existing remedies that it identified as potentially no longer needed, including because new laws and regulations had superseded some requirements.

Why the authority reviewed the remedies

In its decision announcement, the CMA said remedies help improve competition but require businesses to spend resources complying with them and the authority or other bodies to monitor them. It said the review aimed to remove requirements that are no longer needed while keeping remedies focused on the competition concerns they were designed to address.

The CMA is still considering consultation responses on whether to partially remove separate orders covering retail banking and private motor insurance, citing the range of views received. It plans to publish an update later in November.