Andrew Taylor, Co-founder and Partner at Aldwych Partners, has been featured in The Times business section discussing the Competition and Markets Authority’s proposal for reforms to the UK’s competition and consumer protection regime.
Andrew writes: “Many of the authority’s proposals have merit. But if its powers are to expand there must also be reforms to ensure its decisions support open, competitive markets.”
“CMA decision-making uses a mishmash of approaches carried over from its predecessors, the Office of Fair Trading and the Competition Commission. Panels of part-time appointees oversee complex mergers and market investigations, with no decision-making role for senior executives. However, for competition cases the reverse is true — CMA executives make decisions with only limited challenge from external appointees.”
“Strengthening the CMA’s decision-making structures needs to be integral to any package that increases the agency’s powers.”
A copy of the full article is available at here.