Treasury Committee to take Evidence on OFT / Competition Commission Merger

14 October 2010

The announcement that the Government is considering merging the OFT’s competition function with the Competition Commission and transforming the body’s consumer and enforcement function has major implications for competition and regulation in financial services.

The Treasury Committee is currently undertaking major inquiries into Financial Regulation and Competition in Retail Banking. It has arranged a new evidence session with John Fingleton, Chief Executive of the OFT, and a senior representative of the Competition Commission to explore the implications of this major change.


The session will take place from 10:30 am on 9th November in the Thatcher Room, Portcullis House.


The Chairman of the Committee, Andrew Tyrie MP, said:

"The Government is consulting on the future of the OFT in the New Year. We want to make sure that our inquiries, and the Government consultation, take full account of the implications of this change for the financial sector and particularly for consequences for banking and other financial products. Consumer interests should be paramount."

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