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Office design and fit-out cartel leads to director disqualifications
The CMA (Competition and Markets Authority) has secured the disqualification of a number of directors in the aftermath of the fines issued in the office design and fit-out cartel investigation.
In April 2019, fines in the sum of £7m were issued to a number of companies who had been found guilty of breaking vital competition laws. For over a decade, the guilty companies had been engaging in cover bidding, where they were able to artificially inflate the prices of at least 14 contracts. This kind of behaviour can also reduce the quality of services on offer for the consumer as well.
Now, the CMA has taken further action by securing disqualifications for a number of directors who were involved in the cartel activity.
Groundworks supplier investigation: the latest
There’s an ongoing groundworks supplier investigation being conducted by the Competition and Markets Authority (CMA), so here’s the latest.
The investigation surrounds suspicions of anti-competitive behaviour in the sector for the supply of groundworks products to the construction industry. The CMA’s investigation is looking into whether any of the key suppliers in the market are breaching important competition laws. If they are found to be acting unethically, they could face substantial fines.
The investigation has been going on for some time now, and a great deal of evidence has been collected and reviewed so far.
Provisional finding in the pharmaceuticals competition investigation
There has been a provisional finding in the pharmaceuticals competition investigation by the Competition and Markets Authority (CMA) who have been looking into companies for quite some time.
It has been alleged that anti-competitive agreements are in place between four firms in the sector, and the calculated costs to the NHS is terrifying. If the provisional finding is formalised, huge fines could be issued to the alleged offenders involved in the investigation.
The costs of anti-competitive arrangements in the pharmaceutical industry often fall on the NHS, and therefore on the taxpayer, which is why these kinds of investigations are incredibly important.
£7m in fines issued in office fit-out competition case
A huge £7m in total fines has been issued after five companies have admitted to breaches in the office fit-out competition case.
The Competition and Markets Authority (CMA) has been investigating the design, construction and fit-out services market since 2017. In July 2018, they decided to continue their probes, and in March this year, fines have been issued and agreed.
The five companies that have admitted to breaches and will be fined are Coriolis, Fourfront, Loop, Oakley and ThirdWay.
Provisional finding in hydrocortisone competition case
There’s been a provisional finding by the Competition and Markets Authority (CMA) in the important hydrocortisone competition case, with a Statement of Objections issued.
In the coming weeks, the CMA expect written and oral representations to be made following the Statement of Objections that’s been issued.
The provisional findings of the CMA are incredibly worrying. It all comes down whether the two companies at the heart of the investigation colluded in order to charge higher prices and make bigger profits; all at the expense of our NHS, and our hard-earned tax money.
Brief update in the hypothyroidism tablets competition case
A brief update has been issued in the hypothyroidism tablets competition case surrounding alleged overcharging of liothyronine medication.
The liothyronine tablets are used to treat people lacking in thyroid hormones, which can lead to tiredness, slow metabolism, depression and other ailments. The CMA (Competition and Markets Authority) spent a great deal of time in 2017 gathering evidence for the case. In November 2017, a statement of objections was formally issued.
Last month, an updated statement of objections was issued by the CMA in this incredibly important investigation.
CMA secondary ticketing investigation updated
There has been another update in the CMA secondary ticketing investigation following on from the recent court action against Viagogo.
As of yesterday, the CMA (Competition and Markets Authority) demanded that a number of the big players in the secondary ticketing market must have improved their business behaviour. This ongoing investigation and review is hugely important given the growth in touts and overcharging. This is among practices that have arguably made pricing unclear, with the consumer not being protected by the market players.
The changes that the CMA are pushing through should help to defend the consumers against unfair practices. It should ensure consumer rights are not infringed and should enforce the ticketing companies to act more responsibly.
An investigation last year reportedly indicated randomness in terms of Argos price changes, alongside Amazon, AO, John Lewis and Currys PC World.
The internet has allowed for price comparison to be a huge factor in consumer decision making. In the aftermath of Christmas, when sales are everywhere, the consumer is expecting to make some savings.
But a consumer report last year reportedly indicated some strange behaviours when it came to Argos price changes. The same was also found for Amazon, AO, John Lewis and Currys PC World as well.
Loyalty penalty CMA investigation concludes
The massive loyalty penalty CMA investigation – deemed a ‘super complaint’ – has resulted in a set of reforms to stop the issue affecting people.
The investigation found “damaging practices by firms, which exploit unsuspecting customers”. This issue is estimated to equate to a cost to the consumer in the region of £4bn per year. There are thought to be millions of people affected by loyalty penalties.
The loyalty penalty CMA investigation looked at five markets: savings; insurance; mortgages; mobile phone contracts; and broadband. New regulatory rules are set to be introduced to stamp out the loyalty penalty endemic.
CMA consider appeal in phenytoin competition case
The CMA is considering an appeal in the phenytoin competition case after a Tribunal found that the CMA ruling of market abuse is incorrect.
The phenytoin competition case is one of the most pivotal cases of our time in terms of the cost of drugs to the NHS. A number of investigations and findings have been made against pharmaceutical giants for overcharging the NHS, putting huge strains on public finances, and the CMA’s intervention is vital for the survival of our public health service.
The Tribunal decision in the phenytoin competition case is a setback that the CMA is now considering an appeal for.