The Competition and Markets Authority (CMA) has published a memorandum of understanding (MoU) that it has entered into with the FCA on the use of concurrent powers under consumer protection legislation.
The MoU replaces the one between the CMA and the FCA dated 12 June 2014. It sets out working arrangements between the CMA and FCA in relation to their concurrent powers to enforce the following consumer protection legislation in the financial sector in the UK:
- the Consumer Rights Act 2015 and the Unfair Terms in Consumer Contracts Regulations 1999; and
- legislation enforceable under Part 8 of the Enterprise Act 2002 including the Consumer Protection from Unfair Trading Regulations 2008.
View MoU between FCA and CMA on use of concurrent consumer protection powers, 12 January 2016