The Competition and Markets Authority | Regulatory Solicitors
The Competition and Markets Authority (‘CMA’) is to be given, in the words of Theresa May:
‘much stronger powers…to strengthen the sanctions available’
Timothy Thompson of Kangs Solicitors comments.
New Powers | Kangs CMA Defence Solicitors
- Recently the Business Secretary disclosed plans for the CMA to be provided with the power to levy fines against companies or businesses found to have overcharged or mislead consumers.
- This power will be exercisable without the need for obtaining a prior Order through court proceedings.
- The enhanced power is designed to expedite enforcement and enable the CMA to tackle poor business behaviour.
- Effectively, the CMA will be able to decide, of its own volition, whether or not any company or business has acted improperly in respect of its customers and, if so, whether or not any penalty should be imposed and the nature and amount.
Disqualification of Directors and the CMA | CDDA 1986
Under the Company Directors Disqualification Act 1986, the CMA is already able to initiate Disqualification Proceedings against directors whose conduct falls below the required threshold and the new powers which the CMA will possess can be expected to be utilised alongside those already existing.
Downing Street Comment | Kangs Director Disqualification Solicitors
Former Prime Minister Theresa May said:
“For far too long, many big companies have been getting away with harmful trading practices which lead to poor services and confusion among customers who have parted with their hard-earned cash.”
“The system as it stands not only lets consumers down but it also lets down the vast majority of businesses who play by the rules.”
“It is high time this came to an end and today we are confirming our intention to give much stronger powers to the CMA, to strengthen the sanctions available and to give customers the protection they deserve against firms who want to rip them off.”
How Can We Help You? | Kangs CMA and Director Disqualification Solicitors
The team at Kangs Solicitors has a wealth of experience representing clients who are faced with investigations brought by various government regulators such as the CMA.
Anyone facing the prospect of such an investigation or who is already engaged in one should seek immediate specialist legal advice.
If we can be off assistance, please do not hesitate to contact our team through one of the following: