A competition regulator is the institution that oversees the functioning of markets. It identifies and corrects practices causing market impediments and distortions through

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 ...

(also known as antitrust law). In general it is a

government agency A government agency or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government (bureaucracy) that is responsible for the oversight and administration of specific functions, s ...

, typically a

statutory authority A statutory body or statutory authority is a body set up by law (statute) that is authorised to implement certain legislation on behalf of the relevant country or state, sometimes by being empowered or delegated to set rules (for example reg ...

, sometimes called an economic regulator, that regulates and enforces

s and may sometimes also enforce

consumer protection Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent business ...

laws. In addition to such agencies, there is often another body responsible for formulating

competition policy 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 ...

. 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 Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

and

business alliance A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involve ...

s and regulate or prohibit

cartel A cartel is a group of independent market participants who collaborate with each other as well as agreeing not to compete with each other in order to improve their profits and dominate the market. A cartel is an organization formed by producers ...

s and

monopolies A monopoly (from Greek and ) is a market in which one person or company is the only supplier of a particular good or service. A monopoly is characterized by a lack of economic competition to produce a particular thing, a lack of viable sub ...

. Other government agencies may have responsibilities in relation to aspects of competition law that affect

companies A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specifi ...

(e.g., the registrar of companies). Regulators may form supranational or international alliances like the ECN ( European Competition Network), the ICN (

International Competition Network What is The International Competition Network (ICN) provides competition authorities with a specialized yet informal venue for maintaining regular contacts and addressing practical competition concerns. It seeks to facilitate cooperation between ...

), and the

OECD The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, wor ...

(

Organisation for Economic Co-operation and Development The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, wor ...

List of trade blocs and multinational regulators

List of national regulators

References

External links

* {{cite web, url=http://www.ftc.gov/oia/authorities.shtm, title=Competition & Consumer Protection Authorities Worldwide, author=Federal Trade Commission, date=July 24, 2013, author-link=Federal Trade Commission Competition (economics) Anti-competitive practices Monopoly (economics)

List of trade blocs and multinational regulators

List of national regulators

See also

References

External links