Memoranda of understanding

The Commission is required by Section 66 of the Competition Act 2007 to sign memoranda of understanding (MOUs) with regulators. These MOUs will set out the approach the CCM will take to dealing with competition matters in sectors where there is a regulator, governing for example information exchange between the two bodies. The CCM does not require approval by a sector regulator to carry out an investigation in that sector, nor can regulators exercise powers under the Competition Act 2007. However, to ensure joined-up Government and to limit the regulatory uncertainty facing businesses it is essential that all the agencies in question consult one another on a regular basis, and on the specifics of any anticipated investigation.