We wanted to inform you that the UK Secretary of State for Business, Energy and Industrial Strategy has published a consultation which puts forward the most significant and extensive set of proposed reforms to the UK's competition and consumer policy since the creation of the Competition & Markets Authority ("CMA") almost 10 years ago. The consultation closes on 1 October 2021.

Importantly, the consultation recognises that the UK's competition regime has been working well (across most metrics and internationally), but indicates that it could be improved to reduce the burden on businesses and allow for more timely, efficient and effective procedures and outcomes. Of particular importance are the proposed reforms to UK merger control (with the potential revision of filing thresholds and introduction of new thresholds) as well as elevated enforcement powers for the CMA with stronger enforcement against unlawful anticompetitive conduct and upgraded investigative tools. As well, the suggested reforms propose a more active role for the Government in directing UK competition policy and enforcement, which, if adopted, raises the critical question of how Government will perform this role against the backdrop of its traditional independence from the CMA and society's broader need for impartial CMA investigations.

Click here to read our latest briefing on the consultation and key proposed reforms.