Britain’s competition watchdog will be given new post-Brexit powers to protect online consumers from rip-offs and levy huge fines to companies in breach of regulations.
The proposals seek to streamline and strengthen the powers of the Competition and Markets Authority (CMA), as well as seeking to drive innovation and growth in the UK markets.
The CMA will be able to conclude investigations faster and impose stronger penalties on companies breaking the law, with new powers to hit traders in breach of consumer law with fines of up to 10% of their global turnover.
The CMA will have greater powers to protect consumers from dodgy online schemes and fake reviews
Businesses that refuse or give misleading information to enforcers could face civil fines and directors who make false declarations to regulators could be disqualified.
The CMA will also