Tag: funerals market
First published by Matt on February 10, 2021 in the following categories: Consumer Law Industry Investigations Latest Pricing and tagged with cma | competition law | consumer law | funerals market | investigations | pricing
The Competition and Markets Authority (CMA) is carrying out a market investigation into the supply of services by funeral directors at the point of need, and the supply of crematoria services also. This article is a CMA funerals investigation update.
On the 16th March 2020, the CMA announced their decision to extend the statutory deadline for this investigation by six months. The new deadline for this investigation is now currently set as 27th March 2021, with all submissions until June 2020 being taken into account.
The funeral directors market investigation that’s being conducted by the CMA (Competition and Markets Authority) remains ongoing.
In terms of the latest happenings and goings on, here’s a brief update based on information from the CMA about the progress of their important work in this sector.
It goes without saying that this is another important investigation for the competition regulator. People are in obvious need of funeral and crematorium services, and the need for such services will likely increase with population growth.
Here’s the latest in the ongoing funerals market investigation that’s being conducted by the Competition and Markets Authority (CMA).
The market study was launched last year in June 2018. Research was commissioned to better understand the experiences and decision-making processes of people who had engaged the services of a funeral director. A number of businesses in the market responded after the launch of the market study and made comments in relation to the information gathering exercise that the CMA is undertaking.
With this being a market that will (likely) always be there, it’s an important one when it comes to making sure that competition is healthy in the sector.
There has been a couple of updates in the ongoing funeral market investigation being carried out by the Competition and Markets Authority (CMA) in the UK.
We’ve been tracking this investigation for quite some time, and it’s one of particular importance given the sector and subject. There will always be a market for these kinds of services, and the market will likely continue to grow. As such, any concerns with regards to competition law is a matter that the CMA must look into in detail.
Since our previous article on the investigation, there has been a couple of updates.
The deadline has been set for the investigation into funeral costs that appear to have soared in recent years.
We should know by May 2019 whether any further action is to be taken. This could be a formal investigation into whether breaches of consumer law is taking place, or additional studies of the market and its workings.
To point out the obvious, we’re all going to die at some point. Given that dying comes with costs, this is an important sector when it comes to healthy competition and consumer protection. That’s not just because the industry is worth billions, or the fact that it’s usually a sad time for many, but also because there’s always going to be a market for it (we assume!).
There’s been a huge development in the regulator’s funeral costs investigation that we’ve been tracking for a long time now.
The Regulators, the CMA (Competition and Markets Authority), are set to move from a market study to a referral for a market investigation. Their interim report states that there are “reasonable grounds for suspecting that a feature or combination of features of a market or markets in the UK prevents, restricts or distorts competition”.
The CMA now want to look into any adverse impact on the consumer. For a huge and sensitive market that’s worth something like £2bn a year, this is big news.