On Tuesday 5 June 2018 the Scottish Competition Forum welcomed senior officials from the CMA, FCA and Ofgem to a discussion on competition enforcement by the CMA and sector regulators following the CMA’s publication of its annual concurrency report on 30 April.
The report looks back at the fourth year of the concurrency regime highlighting a “step change” in the relationships that have developed between the CMA and the sector regulators. Almost every sector regulator has now launched at least one Competition Act investigation and the CMA and the sector regulators have undertaken significant market investigations work, often alongside use of their sector-specific regulatory powers.
In this seminar we considered the use of competition powers by the CMA and the sector regulators. Graeme Young, competition partner at CMS, was joined by a panel consisting of:
- Sharon Horowitz, Director, Sector Regulation Unit at the Competition and Markets Authority
- Deborah Jones, Director of Competition at Financial Conduct Authority
- Mark Mills, Principal Legal Advisor at Ofgem
Our panel considered the Competition Act cases and markets work that have been taken on by the sector regulators over the last four years, the interplay between market investigation powers and Competition Act enforcement, and the sector regulators’ use of competition powers alongside their regulatory enforcement powers.