Britain's Competition and Markets Authority announced on 4 November that it would remove 23 market remedies, remove two others in part and retain six following a strategic review. Decisions on two further measures covering retail banking and private motor insurance remain outstanding, the regulator said in its announcement.
The final decision covers 31 of the 33 remedies examined. These are orders and undertakings introduced after market investigations. The CMA said it reviewed whether changes in circumstances, including newer laws and regulations, meant the original requirements were still needed. Its stated aim is to preserve measures that address competition problems while removing compliance and monitoring requirements it considers unnecessary.
The case record lists revoked orders and released undertakings across markets including new cars, payday lending, payment protection insurance and airport services. It also records variations to home-credit and carbonated-drinks measures. Six remedies remain in their entirety, including those for the Current Account Switch Service and local bus services. The decision therefore changes particular market requirements rather than abolishing the competition-remedies system.
The CMA is still assessing consultation responses on possible partial removal of the Retail Banking Market Investigation Order and Private Motor Insurance Market Investigation Order. It says it will publish an update later in November. The announcement does not establish the outcome of those two reviews or quantify any resulting savings for businesses or consumers.
