We invite views on the proposed guidance, which explains how we will exercise our powers to approve and enforce redress schemes under CA98.
Under changes made by the Consumer Rights Act 2015, we have new powers under the Competition Act 1998 (CA98) allowing us to approve a redress scheme in relation to an infringement of the prohibitions on anti-competitive behaviour in CA98 or the Treaty on the Functioning of the European Union. In accordance with the statutory duty on us under CA98, we are publishing guidance on the approval and enforcement of such redress schemes.
This guidance is aimed at firms looking to provide compensation under a CA98 redress scheme. It will also be useful to those who set up or recommend redress schemes to us under CA98. It does not alter or affect any other mechanism available to us for providing redress.
Although this consultation does not directly affect consumers, it does explain how we will review and approve redress scheme applications. Therefore, consumers, and organisations that advocate consumer interests, may be interested to learn more about how we will use our new redress scheme approval powers.
Please send your comments by email to firstname.lastname@example.org.
Please send us your comments by 15 February 2016.
Copyright © 2016 FCA. All Rights Reserved.