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The Competition Commission (CC) has published for public consultation its draft revised guidelines on market investigation references, together with two annexes as a separate document.

The process of revising the guidelines started in March 2010, when the CC sought initial views from stakeholders on what the new guidance should include and between April and July 2011 conducted a consultation on those sections of the working draft that had by that time been extensively developed. The documents are available here

The CC published the current market investigations (PDF, 2.7 Mb)  guidelines in June 2003, before the organization had had experience of conducting such investigations (which were introduced under the Enterprise Act 2002). Since then, 14 market investigations have been, or are being, carried out by the CC. The draft Guidelines distil the lessons the CC has absorbed from the practical experience of conducting them. They cover all aspects of market investigations, from their role and procedures to the ways in which the CC assesses markets and, when necessary, designs remedies to improve competitive conditions.
 
CC Chairman Roger Witcomb commented:

'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 Movies on Pay TV, Private Healthcare, Auditing and Aggregates.

The CC has invited comments on the drafts before 14 September 2012, addressed to: tony.gooch@cc.gsi.gov.uk. The responses, or a summary of them, will be published on the CC website and respondents should indicate if they are submitting any information they regard as confidential.

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.