WIREDGOV

The Competition Commission (CC) has published its final guidelines on market investigation references, along with new guidelines on disclosure of information in inquiries.

Both documents update earlier versions of the guidelines, which were published in 2003.

The Guidelines for Market Investigations (CC3) (PDF, 1.1 Mb)  replace existing guidelines in the light of experience gained in the conduct of the 15 market investigation references made since 2003. Such references require the CC to decide whether features of the market have an adverse effect on competition and, if so, what remedial action should be taken. The Guidelines explain how the CC examines these questions and include sections on the CC’s procedures and the remedies it can impose. The CC consulted on the draft revised version of the guidelines last year. 

The Chairman’s Guidance on Disclosure of Information (CC7) (PDF, 305 Kb)  similarly updates previous guidance to reflect the experience gained since 2003. It provides guidance on the disclosure of information during merger inquiries and market investigations, and during reviews of undertakings and orders. The CC held a consultation on these guidelines last October. 

CC Chairman Roger Witcomb commented on the new Market Investigation Guidelines:

'We have now conducted a good number of these investigations across a wide range of markets and have applied this experience to the updated guidelines. Market investigations have proved to be an important part of the current competition regime and will continue to play this role following the current reforms. We intend that the finished guidelines will provide valuable assistance for all those involved with market investigations under the CC and in future under the new Competition and Markets Authority. '

CC market investigations in recent years have included BAA, Payment Protection Insurance, Groceries and Local Buses. Ongoing investigations include Private Motor Insurance, Private Healthcare, Auditing and Aggregates.

Further details on the consultation process, including submissions and the CC responses, are available for both the Market Investigation Guidelines and the Disclosure Guidelines.

Notes for editors

1. The CC is an independent public body which carries out investigations into mergers, markets and the regulated industries.

2. The Enterprise Act 2002 (the Act) requires the Office of Fair Trading (OFT) to refer to the CC, for investigation and report, completed or proposed mergers where there may be a substantial lessening of competition.

3. The Act also empowers the OFT to refer to the CC, for investigation and report, markets where there may be an adverse effect on competition.

4. The CC has assessment and appeal functions under a wide range of sectoral regulatory regimes.

5. Further information on the CC and its procedures, including its policy on the provision of information and the disclosure of evidence, can be obtained from its website at: www.competition-commission.org.uk.

6. Enquiries should be directed to Rory Taylor on 020 7271 0242.