UK's competition watchdog to get extra powers to shield the public from rip-offs
The UK’s competition watchdog will be given extra powers to boost competition and shield the public from rip-offs under planned reforms revealed by Business Secretary Kwasi Kwarteng.
The new powers for the Competition and Markets Authority (CMA) and similar enforcers will enable them to hit unscrupulous traders, who breach consumer law, with fines of up to 10% of their global turnover, and civil fines for businesses who refuse or give misleading information to enforcers.
The government is also considering several options, including introducing financial penalties, when firms breach the commitments given to enforcers that they will change their ways.
The CMA will be able to enforce consumer law directly, rather than having to go through a lengthy court process, to speed up the process.
The government also proposes to remove mergers between small businesses, where each party’s turnover is less than £10mln, from the CMA’s merger control altogether, keeping the burden on smaller businesses to a minimum.
Among a wide range of measures, the government will change the law so prepayment schemes such as Christmas savings clubs have to safeguard customers’ money to try to prevent scandals like Farepak happening again.
While for the used car and home improvement sectors, the government will make it mandatory for businesses to take part in arbitration or mediation where disputes arise over a transaction.
Bogus online ratings will also be targeted by rules that make it automatically illegal to pay someone to write, or host, a fake review.
“The UK’s economic recovery relies on the strength of our open markets and consumers’ faith in them,” said Kwarteng.
“By delivering on our commitment to bolster our competition regime, we’re giving businesses confidence that they’re competing on fair terms, and the public confidence they’re getting a good deal.”
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/955448/uk-s-competition-watchdog-to-get-extra-powers-to-shield-the-public-from-rip-offs-955448.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,666,920 |
| Stories: | 8,446,139 |
Whistler Blowers, Insiders
