Which organization is responsible for regulating competition in the UK?

The Competition and Markets Authority (CMA) is the organization responsible for regulating competition in the UK. Established in April 2014, the CMA took over the functions of its predecessor, the Office of Fair Trading (OFT) and the Competition Commission. Its primary role is to promote competition for the benefit of consumers, both within and outside the UK.

The CMA has the authority to conduct investigations into mergers and acquisitions, enforce competition law, and ensure businesses comply with regulations that prevent anti-competitive practices. Its overarching goal is to maintain a competitive marketplace, fostering innovation, lower prices, and improved quality of goods and services for consumers.

In comparison, while the Office of Fair Trading was involved in these areas prior to the establishment of the CMA, it is no longer the main regulatory body. The European Competition Network is a group of European national competition authorities and the European Commission that cooperates on competition policy; however, it does not regulate competition in the UK specifically, especially following Brexit. The Department for Business, Energy and Industrial Strategy is a government department that handles a range of business-related issues, but it does not directly regulate competition.

Therefore, the CMA is recognized as the definitive authority in the UK for competition regulation, making it the correct