Archives
Provisional finding in hydrocortisone competition case
There’s been a provisional finding by the Competition and Markets Authority (CMA) in the important hydrocortisone competition case, with a Statement of Objections issued.
In the coming weeks, the CMA expect written and oral representations to be made following the Statement of Objections that’s been issued.
The provisional findings of the CMA are incredibly worrying. It all comes down whether the two companies at the heart of the investigation colluded in order to charge higher prices and make bigger profits; all at the expense of our NHS, and our hard-earned tax money.
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.
Deadline set for the investigation into funeral costs
The deadline has been set for the investigation into funeral costs that appear to have soared in recent years.
We should know by May 2019 whether any further action is to be taken. This could be a formal investigation into whether breaches of consumer law is taking place, or additional studies of the market and its workings.
To point out the obvious, we’re all going to die at some point. Given that dying comes with costs, this is an important sector when it comes to healthy competition and consumer protection. That’s not just because the industry is worth billions, or the fact that it’s usually a sad time for many, but also because there’s always going to be a market for it (we assume!).
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.
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.
CMA secondary ticketing investigation updated
There has been another update in the CMA secondary ticketing investigation following on from the recent court action against Viagogo.
As of yesterday, the CMA (Competition and Markets Authority) demanded that a number of the big players in the secondary ticketing market must have improved their business behaviour. This ongoing investigation and review is hugely important given the growth in touts and overcharging. This is among practices that have arguably made pricing unclear, with the consumer not being protected by the market players.
The changes that the CMA are pushing through should help to defend the consumers against unfair practices. It should ensure consumer rights are not infringed and should enforce the ticketing companies to act more responsibly.
The Heathrow parking competition infringements case
A hefty fine has been issued in the wake of the Heathrow parking competition investigation that drew to a conclusion a couple of months ago.
The Competition and Markets Authority (CMA) has issued a fine of £1.6m to Heathrow after they admitted to competition law infringements. The fine was originally £2m, but as a result of Heathrow’s cooperation and acceptance of wrongdoing, they received a leniency discount of 20%.
The investigation surrounds how parking charge rates were set in connection with the operator of Terminal 5 Hotel, Arora Group.
Huge funeral costs investigation development
There’s been a huge development in the regulator’s funeral costs investigation that we’ve been tracking for a long time now.
The Regulators, the CMA (Competition and Markets Authority), are set to move from a market study to a referral for a market investigation. Their interim report states that there are “reasonable grounds for suspecting that a feature or combination of features of a market or markets in the UK prevents, restricts or distorts competition”.
The CMA now want to look into any adverse impact on the consumer. For a huge and sensitive market that’s worth something like £2bn a year, this is big news.
The CMA statutory audit market investigation
The CMA’s (Competition and Markets Authority) statutory audit market investigation was launched last month.
A number of key issues are being looked into by the CMA to make sure that the market is working fairly and efficiently. Comments on the key issues are being invited, and a statutory deadline has been applied to the investigation.
It’s early days, with the investigation only being launched last month. It’s another important one for us to keep an eye on as lawyers who fight for competition to be fair and consumer-focused!
Victory in Ping competition appeal tribunal
The CMA’s previous competition infringement decision has been upheld at the Ping competition appeal tribunal.
The CMA (Competition and Markets Authority) had previously established a breach finding against Ping Europe Limited. Ping had banned the sale of its golf clubs online which had triggered an investigation by the CMA.
Having assessed the issue, the CMA found that Ping was in breach of competition law by stopping two UK retailers from selling their golf clubs online. The Ping competition appeal tribunal has now upheld the original finding of the breach as well.