Concurrency between OFT and regulators

This article assesses the benefits and possible pitfalls resulting from the concurrency of powers between the OFT and industry regulators under the Competition Act 1998. One of the main advantages is the extension of competition enforcement powers to sectoral regulators who have detailed knowledge and experience of their respective industries. Achieving a broadening of the regulators’ powers within the wider competition policy regime also yields benefits of consistency and transparency. However, some attention may need to be paid to the implementation of the regime, such as the allocation of the investigating role in particular cases and ensuring the acquisition by sectoral regulators of the necessary competition policy tools. Moreover, it is unclear whether the approaches and objectives of industry regulators and competition authorities are entirely aligned, and how this will impact upon the exercise of Competition Act powers.