Competition and Markets Authority
Its work includes matters such as competition enforcement and merger assessment within its jurisdiction, alongside other defined functions. It is not the same institution as the former Competition Commission, and it is not the sole regulator of every sector or business practice. The exact powers, procedures and transaction requirements depend on current law and facts. A business must establish which authority and process apply rather than infer approval from the general aim of supporting competition. A real acquisition may also require separate sector, company-law or other approvals.
Worked example
A business planning an acquisition checks the applicable UK merger process and other relevant regulators. It does not assume that a transaction involving a large company is automatically unlawful or that one competition approval supplies every required consent.
Common mistake
Calling the former Competition Commission the authority deciding a later CMA case or treating the CMA as every industry’s sole regulator.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AFM | Supporting | September 2026–June 2027 |