What we do

The OFT's job is to make markets work well for consumers. Markets work well when businesses are in open, fair and vigorous competition with each other for the consumer's custom.

Our job is to make sure that consumers have as much choice as possible across all the different sectors of the marketplace. When consumers have choice they have genuine and enduring power.

As an independent professional organisation, the OFT plays a leading role in promoting and protecting consumer interests throughout the UK, while ensuring that businesses are fair and competitive. Our tools to carry out this work are the powers granted to the OFT under consumer and competition legislation.

Analysis

We gather intelligence about markets and trader behaviour from a wide range of sources and we respond to super-complaints about markets from designated consumer bodies. Where we spot potential problems, we undertake market studies and recommend or take further action where it is needed.

Prioritisation

We focus our efforts and resources on behaviour that poses the greatest threat to consumer welfare, such as cartel activity and deceptive practices by rogue traders. We pay special attention to problems that affect large numbers of people and to the needs of vulnerable consumers.

Prevention

Preventing harm in the first place is better for consumers than taking enforcement action afterwards. One of the ways we do this is by equipping consumers and businesses with the knowledge they need to protect themselves against unlawful practice.

We also encourage businesses to improve their trading practices by educating them about their duties under the law and by encouraging self-regulation.

Partnerships

The OFT achieves its aims through collaboration with others. Our partners include sector regulators, Government, the courts, the Competition Commission, the European Commission, Local Authority Trading Standards Services, and businesses, consumers and their representatives.

Evaluation

We are committed to assessing our performance against our aims and objectives and to evaluating the financial benefits we deliver to consumers and the economy as a whole. For more information, see our annual reports.

Back to: About the OFT