OFT/CC Reforms – Throwing the Baby Out with the Bathwater?
Mayer Brown Legal Update
One year after opening a consultation on merging the two UK competition authorities, the British Government announced on 15 March 2012 its response. The centrepiece of these reforms will be the creation of a unified Competition and Markets Authority ('CMA') by April 2014 on a statutory footing. The Government's proposals are designed to streamline the decision-making process and increase efficiency. Whether these changes will result in throwing the proverbial 'baby out with the bathwater' remains to be seen.