Forget energy companies: Blame the regulator for distorting competition March 18, 2014 OFGEM, the Office of Fair Trading (OFT) and the Competition and Markets Authority (CMA) will shortly issue an assessment of how well competition in the markets for gas and electricity is serving the interests of households and small firms. But as I argue in the March/April 2014 edition of the European Competition Journal, Ofgem’s regulatory [...]
New competition regulator to begin review of banking March 11, 2014 The Competition and Markets Authority (CMA), the UK's new competition regulator, has announced today that it’s starting a short programme of work into the banking sector, with a decision on whether or not to make a market investigation by the autumn. It’ll publish its work on person current accounts and SME banking in the summer, [...]
Competition and Markets Authority appoints host of new directors November 6, 2013 The Competition and Markets Authority (CMA) has appointed seven new directors, following on from earlier appointments to the CMA board and senior team. The CMA is a non-ministerial government department which seeks to reduce anti-competitive practices. The body was launched on 1 October of this year to replace the competition commission, and the office of [...]
Competition watchdog set to double cartel investigations October 30, 2013 THE NEW competition authorities should be able to double the number of anti-trust investigations carried out thanks to better resources, a leading law firm has forecast. The Competition and Markets Authority will begin work next year, replacing the Office of Fair Trading and the Competition Commission. And according to analysis from Pinsent Masons, a 31 per cent hike [...]
CMA painted into a corner October 9, 2013 CONSUMERS need a stronger voice, according to the government, and the Competition and Markets Authority (CMA) is being set up to fight their corner. But the new consumer champion’s own voice was lost yesterday as an unforeseen problem got in the way of chief exec Alex Chisholm’s big launch speech last night – redecorating. He was [...]
EDF chief blames green policy costs for driving up energy bills October 8, 2013 THE BOSS of EDF yesterday blamed government policies for raising gas and electricity bills, rather than energy companies reaping increasingly large profits. Vincent de Rivaz, chief executive of the big six energy supplier, told a conference in London that around half of the increase in bills is due to higher wholesale costs, a quarter is [...]
Currie to head antitrust body … July 17, 2012 FORMER Ofcom boss Lord Currie has been chosen as the first chair of the Competition and Markets Authority – the UK’s new antitrust regulator. Currie will earn £185,000 a year for the three-day a week commitment, serving as chair of the body for a four-year term beginning this summer. The CMA is part of the government’s [...]
CITY VIEWS SHOULD THE GOVERNMENT RETHINK ITS CHARITY TAX RAID? April 16, 2012 DIEGO SHIN K&L GATES Yes. The plans are obviously going to have a big effect on the ability of charities to source funds. Whether there will be an ever broader social impact remains to be seen. ANDRE GOOCH LLOYDS BANKING GROUP Yes. Personally, I don’t think this is a good thing for the government to [...]
CITY MOVES | WHO’S SWITCHING JOBS March 21, 2012 Ashurst The leading international law firm has announced that James Collins has been appointed as managing partner, with effect from 1 May 2012. Collins trained at Ashurst and became partner in 2005. He is currently a banking partner in Paris, with particular expertise in cross-border acquisition finance and restructuring transactions. He succeeds Simon Bromwich, who [...]
CITY VIEWS: ARE YOU WORRIED ABOUT SHOPS FAILING? June 28, 2011 HANNAH SMITH | DEUTSCHE BANK “I’m not particularly worried about it as they’re not shops that I tend to go to. It results in less competition for other stores but also doesn’t doesn’t help confidence in the economy so is a bit unnerving.” CHRIS JUDD | QBE INSURANCE “I think that retail is expanding too [...]