皇冠体育app

皇冠体育app Annual Report details the work the Competition and Markets Authority (CMA) has carried out in the past year in its role as the UK鈥檚 competition and consumer authority.

皇冠体育app year has brought significant change for the CMA. This included reorienting its activity in response to the coronavirus (COVID-19) pandemic and聽addressing new problems that arose for consumers and businesses. 皇冠体育app CMA also assumed significant extra responsibilities on mergers and antitrust as a result of the UK鈥檚 departure from the European Union (EU).

In total, the CMA estimates its work resulted in annual average consumer savings of at least 拢2 billion in 2020/21, and over 拢7 billion of savings to consumers in total between 2018/19 and 2020/21. This means that for every 拢1 the CMA spent on its operating costs,聽the average benefit to consumers over the past three years was 拢25.

Between April 2020 and March 2021 the CMA:

• Reviewed 600 mergers and acquisitions, including 38 phase聽1聽merger reviews and 9聽phase 2 investigations, across sectors such as building and construction, pharmaceuticals, hospitals, and digital and financial services.
• Issued 8聽Competition Act infringement decisions, a record number, resulting in 拢52m of fines.
• Secured 11 director disqualifications for competition law breaches involving roofing materials, Fludrocortisone acetate tablets that are used to treat Addison鈥檚 disease and the anti-depressant Nortriptyline, and precast concrete drainage.
• Launched antitrust cases into large digital companies including Google and Apple that would previously have been reserved to the European Commission.
• Secured commitments to refund customers over 拢200 million for holidays cancelled due to the COVID-19 pandemic, through investigations into 5 major package travel companies: TUI UK, Virgin Holidays, Lastminute.com, LoveHolidays,听补苍诲 Teletext Holidays.
• Secured commitments from companies in the holiday rentals and weddings sectors, including the provision of refunds.
• Secured formal commitments across 4 other investigations into consumer protection issues, including commitments from Instagram to do more to tackle聽the risk of fake online reviews and prevent hidden advertising on its platform; and Care UK to refund residents of care homes who paid unfair fees.
• Published the advice of the Digital Markets Taskforce in December 2020, putting forward recommendations to Government for the design and implementation of a pro-competition regime for the most powerful digital firms.
• Published a market study report on online platforms and digital advertising, a market investigation report on funerals, and a market review report on legal services, and launched market studies into electric vehicle charging and children鈥檚 social care provision.

Andrea Coscelli, chief executive of the CMA, said:

鈥淭his has been a challenging but highly successful year for the CMA, in which we have continued to act to protect consumers and promote competition throughout every part of the UK.

鈥淚 am proud that over the past three years we have generated an average benefit for people in the UK of 拢25 for every 拢1 spent on our operating costs. We are confident that the CMA is well-prepared for the challenges ahead and look forward to the opportunities presented by the changing landscape and our expanded role within it.鈥�