Archives
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.
Further action set for the CMA’s secondary ticketing and Viagogo case?
There’s more news in the Competition and Market Authority’s (CMA) secondary ticketing and Viagogo case. And it could be huge.
You may recall that we’ve been tracking this case for a while now. At the start of 2019, a Viagogo, StubHub and Ticketmaster were all required to undertake serious changes to their business behaviour. This came in to effect as of midnight on 17th January 2019.
However, the CMA conducted some simple checks on 24th January 2019. They say that they found that Viagogo had failed to comply with the court order against them. Now, Viagogo is potentially facing further legal action for contempt of court.
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.
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.
Brief update in the hypothyroidism tablets competition case
A brief update has been issued in the hypothyroidism tablets competition case surrounding alleged overcharging of liothyronine medication.
The liothyronine tablets are used to treat people lacking in thyroid hormones, which can lead to tiredness, slow metabolism, depression and other ailments. The CMA (Competition and Markets Authority) spent a great deal of time in 2017 gathering evidence for the case. In November 2017, a statement of objections was formally issued.
Last month, an updated statement of objections was issued by the CMA in this incredibly important investigation.
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.