The merged entity would create a single competition and markets authority responsible for merger regulation, market investigations, cartel and antitrust cases and concurrent competition enforcement powers in relation to a number of regulated sectors. The OFT’s consumer enforcement functions would be transferred to Trading Standards. The Citizens Advice service would still assist with consumer complaints. The Competition Appeals Tribunal would be retained as a separate body. John Fingleton, Chief Executive of the OFT responded to the announcement in a press release stating that the OFT has: “advocated the merger of the Competition Commission with the OFT for some time. With the right design, a single competition and markets authority can deliver better, faster results for consumers and the economy, and greater consistency for business.”

 

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