The CMA has opened a consultation on draft guidance on its power to approve redress schemes offered in competition cases.
This is due to the new Consumer Rights Act 2015 expected to come into force in October 2015, that will give parties to competition investigations who have breached the law the power to submit a voluntary redress scheme to the CMA for approval.
It is intended that in appropriate cases this new power will make it easier for parties to provide, and consumers and businesses to gain access to, redress where harm has been caused by a competition infringement.
The CMA is now seeking views and comments from interested parties on the draft guidance it has on the operation of this new power.
The consultation will run for 4 weeks, from 2 March to 29 March 2015.
The full text is available on this link.
Source: CMA
