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The Office of Fair Trading: January 09
News from the OFT
January 2009
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John Fingleton on competition policy in troubled times
The OFT's chief executive has highlighted the need for policy makers to be cautious about undermining competition policy when responding to the current economic situation. Dr Fingleton told a conference 'we must ensure that today's solutions do not inadvertently become tomorrow's problems'. While recognising that there may be times when other policy imperatives will override competition, he warned of the danger of repeating mistakes made in the Great Depression in the US, when competition policy was effectively suspended. A strong economic recovery will require rigorous competition and open markets, he argues.
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OFT's position regarding acquisitions of 'failing firms'
The OFT has recently restated its position on cases where merger parties claim that a target business would exit the market if a merger did not proceed.
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Irresponsible lending
The OFT has published a summary of responses to the consultation on the scope of its irresponsible lending project. The aim is to issue draft guidance for consultation in the spring and publish final guidance in the summer of 2009.
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OFT warns consumers to check gym contracts
The OFT and Consumer Direct are warning consumers carrying out New Year’s resolutions to join a gym to beware of potentially misleading sales tactics and check carefully before signing any contracts.
>
OFT accepts store divestments in Co-op/Somerfield merger
The OFT has accepted undertakings offered by Co-operative Group Ltd to divest stores in 133 areas across the UK to resolve competition concerns raised by its proposed acquisition of Somerfield Limited. As a result, the merger will not be referred to the Competition Commission.
News from the OFT
January 2009
>
John Fingleton on competition policy in troubled times
The OFT's chief executive has highlighted the need for policy makers to be cautious about undermining competition policy when responding to the current economic situation. Dr Fingleton told a conference 'we must ensure that today's solutions do not inadvertently become tomorrow's problems'. While recognising that there may be times when other policy imperatives will override competition, he warned of the danger of repeating mistakes made in the Great Depression in the US, when competition policy was effectively suspended. A strong economic recovery will require rigorous competition and open markets, he argues.
>
OFT's position regarding acquisitions of 'failing firms'
The OFT has recently restated its position on cases where merger parties claim that a target business would exit the market if a merger did not proceed.
>
Irresponsible lending
The OFT has published a summary of responses to the consultation on the scope of its irresponsible lending project. The aim is to issue draft guidance for consultation in the spring and publish final guidance in the summer of 2009.
>
OFT warns consumers to check gym contracts
The OFT and Consumer Direct are warning consumers carrying out New Year’s resolutions to join a gym to beware of potentially misleading sales tactics and check carefully before signing any contracts.
>
OFT accepts store divestments in Co-op/Somerfield merger
The OFT has accepted undertakings offered by Co-operative Group Ltd to divest stores in 133 areas across the UK to resolve competition concerns raised by its proposed acquisition of Somerfield Limited. As a result, the merger will not be referred to the Competition Commission.
>
Scams Awareness Month
Launching on 2 February, and working in partnership with Trading Standards Services, the OFT and Consumer Direct will be warning consumers about the increasingly sophisticated techniques used by scammers. Around 75 local authorities will be taking part in a nationwide Scamnesty campaign inviting the public to dump scam mailings into special bins in public places. Last year more than 15,000 scam mailings from across the UK were collected for intelligence and OFT enforcement cases.
>
Spurs changes its terms
Following a complaint by fans to the OFT, Tottenham Hotspur has agreed to remove conditions on its website that 'tickets cannot be refunded or exchanged under any circumstances'. The OFT considered the term was likely to breach the Unfair Terms in Consumer Contracts Regulation 1999.
News from the OFT
January 2009
>
John Fingleton on competition policy in troubled times
The OFT's chief executive has highlighted the need for policy makers to be cautious about undermining competition policy when responding to the current economic situation. Dr Fingleton told a conference 'we must ensure that today's solutions do not inadvertently become tomorrow's problems'. While recognising that there may be times when other policy imperatives will override competition, he warned of the danger of repeating mistakes made in the Great Depression in the US, when competition policy was effectively suspended. A strong economic recovery will require rigorous competition and open markets, he argues.
>
OFT's position regarding acquisitions of 'failing firms'
The OFT has recently restated its position on cases where merger parties claim that a target business would exit the market if a merger did not proceed.
>
Irresponsible lending
The OFT has published a summary of responses to the consultation on the scope of its irresponsible lending project. The aim is to issue draft guidance for consultation in the spring and publish final guidance in the summer of 2009.
>
OFT warns consumers to check gym contracts
The OFT and Consumer Direct are warning consumers carrying out New Year’s resolutions to join a gym to beware of potentially misleading sales tactics and check carefully before signing any contracts.
>
OFT accepts store divestments in Co-op/Somerfield merger
The OFT has accepted undertakings offered by Co-operative Group Ltd to divest stores in 133 areas across the UK to resolve competition concerns raised by its proposed acquisition of Somerfield Limited. As a result, the merger will not be referred to the Competition Commission.
News from the OFT
January 2009
>
John Fingleton on competition policy in troubled times
The OFT's chief executive has highlighted the need for policy makers to be cautious about undermining competition policy when responding to the current economic situation. Dr Fingleton told a conference 'we must ensure that today's solutions do not inadvertently become tomorrow's problems'. While recognising that there may be times when other policy imperatives will override competition, he warned of the danger of repeating mistakes made in the Great Depression in the US, when competition policy was effectively suspended. A strong economic recovery will require rigorous competition and open markets, he argues.
>
OFT's position regarding acquisitions of 'failing firms'
The OFT has recently restated its position on cases where merger parties claim that a target business would exit the market if a merger did not proceed.
>
Irresponsible lending
The OFT has published a summary of responses to the consultation on the scope of its irresponsible lending project. The aim is to issue draft guidance for consultation in the spring and publish final guidance in the summer of 2009.
>
OFT warns consumers to check gym contracts
The OFT and Consumer Direct are warning consumers carrying out New Year’s resolutions to join a gym to beware of potentially misleading sales tactics and check carefully before signing any contracts.
>
OFT accepts store divestments in Co-op/Somerfield merger
The OFT has accepted undertakings offered by Co-operative Group Ltd to divest stores in 133 areas across the UK to resolve competition concerns raised by its proposed acquisition of Somerfield Limited. As a result, the merger will not be referred to the Competition Commission.
>
Scams Awareness Month
Launching on 2 February, and working in partnership with Trading Standards Services, the OFT and Consumer Direct will be warning consumers about the increasingly sophisticated techniques used by scammers. Around 75 local authorities will be taking part in a nationwide Scamnesty campaign inviting the public to dump scam mailings into special bins in public places. Last year more than 15,000 scam mailings from across the UK were collected for intelligence and OFT enforcement cases.
>
Spurs changes its terms
Following a complaint by fans to the OFT, Tottenham Hotspur has agreed to remove conditions on its website that 'tickets cannot be refunded or exchanged under any circumstances'. The OFT considered the term was likely to breach the Unfair Terms in Consumer Contracts Regulation 1999.
