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Monopolies And Mergers Commission
The Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under UK competition law, competition law in the United Kingdom. It was a competition regulator under the Department for Business, Innovation and Skills (BIS). It was tasked with ensuring healthy competition between companies in the UK for the ultimate benefit of consumers and the economy. The Competition Commission replaced the Monopolies and Mergers Commission on 1 April 1999. It was created by the Competition Act 1998, although the majority of its powers were governed by the Enterprise Act 2002. The Enterprise Act 2002 gave the Competition Commission wider powers and greater independence than the MMC had previously, so that it could make decisions on inquiries rather than giving recommendations to Government, and was also responsible for taking appropriate actions and measures (known as remedies) following inquiries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopolies And Mergers Commission
The Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under UK competition law, competition law in the United Kingdom. It was a competition regulator under the Department for Business, Innovation and Skills (BIS). It was tasked with ensuring healthy competition between companies in the UK for the ultimate benefit of consumers and the economy. The Competition Commission replaced the Monopolies and Mergers Commission on 1 April 1999. It was created by the Competition Act 1998, although the majority of its powers were governed by the Enterprise Act 2002. The Enterprise Act 2002 gave the Competition Commission wider powers and greater independence than the MMC had previously, so that it could make decisions on inquiries rather than giving recommendations to Government, and was also responsible for taking appropriate actions and measures (known as remedies) following inquiries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services And Markets Act 2000
The Financial Services and Markets Act 2000c 8 is an Act of the Parliament of the United Kingdom that created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking, and the Financial Ombudsman Service to resolve disputes as a free alternative to the courts. The Act was considerably amended by the Financial Services Act 2012 and the Bank of England and Financial Services Act 2016. Contents Some of the key sections of this act are: ;Part I The Regulator * Section 1A outlines the regulatory objectives of the Financial Conduct Authority: (a) market confidence; (b) financial stability (c) public awareness; (d) the protection of consumers; and (e) the reduction of financial crime. * Section 2A establishes the Prudential Regulation Authority ;Part II Regulated And Prohibited Activities * Section 19 requires firms to be authorised to conduct regulated activities. * Section 21 makes it a criminal offence to issue a financial promotion ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Non-departmental Public Bodies Of The United Kingdom Government
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Regulators
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition: Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a company is usu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Organisations In The United Kingdom
A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use. Consumer rights “Consumers, by definition, include us all," said President John F. Kennedy, offering his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech : John Fitzgerald Kennedy outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including: *The right to safety: To be protected against the marketing of goods that are hazardous to health or life. *The right to be informed: To be protected against fraudulent, deceitful, or grossly misleading informatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance In The United Kingdom
UK corporate governance has influenced corporate governance regulation in the European Union and United States. A detailed analysis of several UK corporate governance reports, in particular * the Cadbury Report on “Financial Aspects of Corporate Governance” (December 1992), * Rutteman Guidance (December 1994), Greenbury Report (July 1995), * Hampel Report on “Corporate Governance” (June 1998), * Turnbull Report on “Internal Control: Guidance for Directors on the Combined Code” (September 1999) and * Higgs Report on the “Review of the role and effectiveness of non-executive directors” (January 2003) revealed that the UK has been able to influence US corporate governance regulation ( Sarbanes-Oxley Act 2002 OAon “Corporate Responsibility”, enacted by the Senate and House of Representatives of the United States of America). In return, through SOA the US is influencing and accelerating the development of an EU wide governance regulation. “The Commission h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Competition Law
The history of competition law refers to attempts by governments to regulate competitive markets for goods and services, leading up to the modern competition or antitrust laws around the world today. The earliest records traces back to the efforts of Roman legislators to control price fluctuations and unfair trade practices. Throughout the Middle Ages in Europe, kings and queens repeatedly cracked down on monopolies, including those created through state legislation. The English common law doctrine of restraint of trade became the precursor to modern competition law. This grew out of the codifications of United States antitrust statutes, which in turn had considerable influence on the development of European Community competition laws after the Second World War. Increasingly, the focus has moved to international competition enforcement in a globalised economy. Early history Laws governing competition law are found in over two millennia of history. Roman Emperors and Mediaeval mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Regulator
A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the competition law (also known as antitrust law). In general it is a government agency, typically a statutory authority, sometimes called an economic regulator, that regulates and enforces competition laws and may sometimes also enforce consumer protection laws. In addition to such agencies, there is often another body responsible for formulating competition policy. Many nations implement competition laws, and there is general agreement on acceptable standards of behaviour. The degree to which countries enforce their competition policy varies substantially. Competition regulators may also regulate certain aspects of mergers and acquisitions and business alliances and regulate or prohibit cartels and monopolies. Other government agencies may have respo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Law
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Communications Act 2003
The Communications Act 2003 is an Act of the Parliament of the United Kingdom. The act, which came into force on 25 July 2003, superseded the Telecommunications Act 1984. The new act was the responsibility of Culture Secretary Tessa Jowell. It consolidated the telecommunication and broadcasting regulators in the UK, introducing the Office of Communications (Ofcom) as the new industry regulator. On 28 December 2003 Ofcom gained its full regulatory powers, inheriting the duties of the Office of Telecommunications (Oftel). Among other measures, the act introduced legal recognition of community radio and paved the way for full-time community radio services in the UK, as well as controversially lifting many restrictions on cross-media ownership. It also made it illegal to use other people's Wi-Fi broadband connections without their permission. In addition, the legislation also allowed for the first time non-European entities to wholly own a British television company. Provisions of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Appeal Tribunal
The Competition Appeal Tribunal (CAT) of the United Kingdom was created by Section 12 and Schedule 2 to the Enterprise Act 2002 which came into force on 1 April 2003. The Competition Service is an executive non-departmental public body which was created as a support body for the Competition Appeal Tribunal. Functions The current functions of the CAT are: * To hear appeals on the merits in respect of decisions made under the Competition Act 1998 by the Competition and Markets Authority (CMA) and the regulators in the telecommunications, electricity, gas, water, railways and air traffic services sectors. * To hear actions for damages and other monetary claims under the Competition Act 1998. * To review decisions made by the Secretary of State, CMA and the Competition Commission in respect of merger and market references or possible references under the Enterprise Act 2002. * To hear appeals against certain decisions made by Ofcom and the Secretary of State relating to the exerc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ofcom
The Office of Communications, commonly known as Ofcom, is the government-approved regulatory and competition authority for the broadcasting, telecommunications and postal industries of the United Kingdom. Ofcom has wide-ranging powers across the television, radio, telecoms and postal sectors. It has a statutory duty to represent the interests of citizens and consumers by promoting competition and protecting the public from harmful or offensive material. Some of the main areas Ofcom presides over are licensing, research, codes and policies, complaints, competition and protecting the radio spectrum from abuse (e.g., pirate radio stations). The regulator was initially established by the Office of Communications Act 2002 and received its full authority from the Communications Act 2003. History On , the Queen's Speech to the UK Parliament announced the creation of Ofcom. The new body, which was to replace several existing authorities, was conceived as a "super-regulator" to ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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