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Updates in the funeral market investigation
There has been a couple of updates in the ongoing funeral market investigation being carried out by the Competition and Markets Authority (CMA) in the UK.
We’ve been tracking this investigation for quite some time, and it’s one of particular importance given the sector and subject. There will always be a market for these kinds of services, and the market will likely continue to grow. As such, any concerns with regards to competition law is a matter that the CMA must look into in detail.
Since our previous article on the investigation, there has been a couple of updates.
End of contract alerts to be initiated in the UK
We welcome the move to enforce end of contract alerts, which is set to put the consumer firmly back behind the steering wheel when it comes to their contracts for key services.
From February 2020, broadband, phone and TV companies will have to notify their customers when they’re close to the expiry date of their contract. They’ll also have to provide information about pricing and better deals they can offer, as well as clearer information about how to cancel.
The move is aimed to stop consumers aimlessly walking into new contracts and not knowing when their current term has elapsed. This ties in with the loyalty penalty super complaint, and is designed to make sure the consumer is put first.
Suspected anti-competitive agreements in the musical instruments sector
Regulators have opened investigations into the musical instruments sector on the basis that there may be anti-competitive agreements that can be detrimental to the consumer.
The investigation has been launched by the Competition and Markets Authority (CMA) who are the UK’s primary watchdog when it comes to enforcing healthy competition. Anti-competitive agreements that result in cartels, price fixing, and other forms of collusion can be damaging to the consumer. Profits can be inflated for the businesses, and the consumer can end up paying more; which is the opposite to what healthy competition should ensure.
It’s therefore within the public’s interests for suspected anti-competitive agreements to be thoroughly investigated. If the consumer is being ripped off, the companies involved in the behaviour must be punished.
Short-term car lease market review concludes
The Competition and Markets Authority (CMA) has been looking into the short-term car lease market since last year, and the investigations have now come to a head.
Last month, the review into the practises of five major car rental companies came to a conclusion. The review had been conducted by the EU Consumer Protection Co-operation Network, which is coordinated by the CMA. Big-name firms have previously agreed to undertakings, and further changes to online booking processes are now set be made.
The review has been a follow-on from the big 2015 action involving Avis-Budget, Enterprise, Europcar, Hertz and Six. Regulators considered that more could still be done to ensure that some EU-facing websites were complaint with important consumer laws.
Antivirus software competition investigation
An antivirus software competition investigation has been launched by the CMA (Competition and Markets Authority) in the last few months.
What’s interesting about this case is that it was launched as part of the wider reviews following the loyalty penalty super complaint initiated by Citizens Advice. The loyalty penalty super complaint could trigger a number of reviews across a wide range of market sectors.
If it’s all in the name of improving competition and enforcing compliance of the vital regulations that we have in place to protect consumers, we’re all for it.
Latest in the statutory audit market study
The statutory audit market study was launched in October 2018, and we’re set to know more about the outcomes toward the end of this year.
This is a key market sector where the CMA (Competition and Markets Authority) has raised a number of concerns that they’re looking into. Despite previous improvements in the sector that appear to have strengthened competition, Deloitte, E&Y, KPMG and PwC reportedly remain the “go-to” auditors for the majority of large companies.
There’s also a concern as to whether there’s a lack of incentive to produce challenging reviews in terms of the performance of the companies as well.
Online hotel booking investigation update
Here’s the latest in the Competition and Markets Authority (CMA) online hotel booking investigation that has been focused on consumer law compliance.
The initial investigation was launched back in October 2017, with enforcement action taken in June 2018. It’s an important one given the breadth of the online hotel booking market, and how confusing it can be. Competition in this key sector should always be healthy, and any infringements of the law cannot go unpunished.
We’re pleased to see that the latest developments in the online hotel booking investigation has seen undertakings agreed by numerous parties involved.
Crackdown after social media influencer investigation
A crackdown has been launched after a social media influencer investigation raised concerns that some product endorsements may be breaching vital competition law.
The Competition and Markets Authority (CMA) has reportedly written to a number of high-profile celebrities about their social media influencing habits. As a result of the warning letters, some social medial influencers have promised to clearly state if they’re being rewarded for endorsing products. Among those who have made the formal commitments are singers Rita Ora and Ellie Goulding.
We welcome this move and the cooperation of those involved so far.
Pharmaceutical competition investigation extended
The pharmaceutical competition investigation has had a key deadline extended this month. The time being allowed for the analysis of information has been moved.
The ongoing pharmaceutical competition investigation is an important one. The Competition and Markets Authority (CMA) is looking into potential breaches of important competition law. Specifically, they’re looking at two different generic pharmaceutical drugs and whether there are illegal anti-competitive agreements and conduct in place.
This is an important sector when it comes to healthy competition. Any breaches need to be severely punished.
Investigation into financial services sector for suspected anti-competitive practices
The CMA opened an investigation into the financial services sector for suspected anti-competitive practices at the end of last year.
The investigation has only just begun, so no assumptions are made as of yet. The particular companies who may be of interest in the investigation are yet to be named, and it’s the initial information-gathering stage that has begun.
The financial services sector is a huge one, so healthy competition is important. Any breaches of the law will need to be punished accordingly.