The Competition Minister, Jo Swinson, yesterday launched a new regulator to replace the Competition Commission and part of the Office of Fair Trading.
The Competition and Markets Authority will work as a shadow body until taking over responsibility next April. Ms Swinson explained: "The new CMA will have wide powers to enforce the anti-trust prohibitions, operate the mergers regime and conduct market studies and market investigations.
"It will protect consumers by: using consumer enforcement powers where appropriate; fast tracking responses to super-complaints; and co-ordinating action with other consumer bodies.
"By combining these roles in a single body, the regime will be more coherent and predictable, competition processes more efficient, and there will be a more flexible allocation of resources."