Super competition regulator draws closer

A reminder to our readers that the new Competition and Markets Authority is set to become fully operational and fulfil its role as the sole UK competition law regulator on 1 April 2014.

On 1 April, the Enterprise and Regulatory Reform Act 2013 (ERR Act 2013) will transfer the functions of the Competition Commission (CC) and many of the functions of the Office of Fair Trading (OFT) to the new UK competition authority called the CMA.

The ERR Act 2013 also introduces a number of enhancements to the CMA’s statutory powers to improve the robustness of decision-making, increase the speed and consistency of the CMA’s activities, and strengthen the UK’s competition regime as a whole.

Since October 2013, the CMA has been shadowing the work of the (soon to be defunct) Office of Fair Trade and the Competition Commission to prepare itself for its own launch and independence in April.

Bryan Cave will be monitoring developments at the OFT, CC and CMA in the coming months both through this blog and through our monthly Bryan Cave EU & competition law newsletter.