Updates in the funeral market investigation
First published by Author on May 23, 2019 in the following categories: Industry Investigations Latest and tagged with cma | competition law | funerals market | investigations | market study
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.
About the funeral market investigation
The funeral market investigation began as a market study around this time last year. The CMA has been looking at two key areas:
- How competition works for both funerals and the crematoria segment;
- Transparency issues.
Information about consumer research being undertaken was released in October 2018, with a number of responses following the launch of the initial study. In November 2018, the CMA recommended that an investigation takes place.
Since then, consultations have taken place, and advice has been issued. Statements and papers have been published in relation to preliminary findings and conclusions.
Latest in the investigation
A draft consumer survey was published this month as part of the ongoing funeral market investigation. A number of firms have been invited to take part in the research and commenting.
There’s a deadline for comments in relation to the draft questionnaire, which falls on 28th May 2019.
What’s next in the funeral market investigation?
There’s a statutory deadline in place for the funeral market investigation that falls next year. Between now and then, we would expect to receive further updates as to the progress of the investigations, and conclusions should be forthcoming.
With this being such an important market sector, it’s one we’re keeping a particularly close eye on. If there are any findings that lead to punishment for infringements of competition, consumers will need to know.
There may also be recommendations for improving the sector, which can include undertakings to be agreed by key players in the market.