What is Competition and Markets Authority?
The '''Competition and Markets Authority''' is the competition [[Regulation|regulator]] in the United Kingdom. It is a non-ministerial [[government department]] in the United Kingdom. It has to strengthen business [[competition]] and stop or reduce anti-competitive activities. It started on 1 October 2013 and started properly on 1 April 2014. It took over from the Competition Commission and the [[Office of Fair Trading]], which were closed. It had a budget of more than £130 million in 2022-23. It can stop companies merging or taking over other companies. A new law in 2023 will give it more powers to set rules for technology companies with particularly large influence over certain sectors like search or [[social media]]. Companies can be [[Fine|fined]] for breaking their rules.<ref>{{Cite news|last=Espinoza|first=Javier|last2=Beioley|first2=Kate|date=2023-09-19|title=The newfound influence of the UK’s competition watchdog|work=Financial Times|url=https://www.ft.com/content/e1b8ae61-0efe-42ea-89ee-368f224a6b55|access-date=2023-09-19}}</ref> ==References== {{reflist}} [[Category:Government agencies of the United Kingdom]]