On 20 April 2022, the Government included new plans to strengthen consumer law and protect the public. In conjunction with stronger powers for the CMA to tackle anti-competitive behaviour such as price-fixing and “killer acquisitions”, the Government announced:
- new legislation to make it clearly illegal to pay for fake reviews;
- new rules to make it easier for consumers to opt out of subscriptions (to tackle to so called “subscription trap”);
- a requirement for prepayment schemes to fully protect consumer’s money through trust accounts or insurance; and
- new powers for the CMA allowing it to directly enforce consumer law and fine businesses up to 10% of global turnover.
These new powers will have a significant impact on consumers, consumer facing businesses and the enforcement of consumer law; in particular, the introduction of powers allowing the CMA to directly fine businesses for consumer law breaches is a watershed moment.
Chambers is offering training on the new powers and the implications for those in the industry. If you are interest in the training please contact firstname.lastname@example.org
The Government’s press release can be read here: New rules to protect consumers’ hard-earned cash