LONDON, Jan 19 (Reuters) - Britain's antitrust regulator said on Monday it would review its historical interventions in markets to check they were still necessary, and if not it would remove them to
UK to Reassess Historic Antitrust Measures to Reduce Business Burden
Review of Antitrust Measures in the UK
LONDON, Jan 19 (Reuters) - Britain's antitrust regulator said on Monday it would review its historical interventions in markets to check they were still necessary, and if not it would remove them to ease the burden of compliance for businesses.
CMA's Role in Market Regulation
The Competition and Markets Authority (CMA) has compelled companies to take action, or remedies, in markets that it has deemed to be not competitive.
Identified Market Remedies
"Removing unnecessary barriers for businesses saves time and money and ensures the competition regime contributes to the UK's reputation as a great place to do business and invest," CMA Chief Executive Sarah Cardell said.
Consultation Process and Timeline
The British government has demanded regulators such as the CMA prioritise measures that drive economic growth.
A Sky report on Sunday said plans to shake up the CMA's mergers and acquisitions regime could be announced this week.
The CMA said it had identified 33 market remedies - 60% of all those in place - which may no longer be needed to deal with problems they were designed to fix.
They could have been superseded by new laws and regulations or technological advances, it said.
It cited the measures imposed on large travel businesses over a decade ago and rules requiring banks to provide payment transaction histories as remedies that could be scrapped.
It said it would consult on changes until March 2.
(Reporting by Paul Sandle; editing by William James)
