News from the OFT

September 2010

OFT Annual Report 2009-10

The OFT has recently published its Annual Report for the last financial year along with an estimate of its financial benefits to consumers.

The report shows that the OFT has saved consumers at least £359m per year on average over the period 2007 to 2010.

OFT warns people to know their rights before buying a used car

The OFT has launched a campaign to help people know their rights when they buy a used car from a dealer, as new figures reveal a rise in complaints.

Market studies

The OFT has launched a market study into the aggregates sector, and has published the final scope of its study into equity underwriting and associated services.

It has also published its draft recommendations on the advertising of prices.

OFT and Competition Commission (CC) joint merger guidelines

For the first time, the OFT and the CC have published joint Merger Assessment Guidelines, designed to provide greater clarity on how the competitive impact of mergers is assessed.

Competition Act 1998 investigations

The OFT is consulting on draft guidance which sets out in detail how it conducts investigations into potential breaches of competition law.

Details of current investigations can be found on the OFT website.

Consumer Credit

A document setting out the OFT's Regulatory approach to its Consumer Credit Act responsibilities has been published.

The OFT has also published a Summary of responses to the consultation on 'irresponsible Lending - OFT guidance for Creditors' as well as updating the Guidance itself.

Sale of Goods Act hub launched

In a new initiative to assist retailers and their staff, the OFT has launched the Sale of Goods Act hub, which provides a range of reference and training materials on the Sale of Goods Act and customer returns.

Choice and Competition in Public Service Markets

The OFT hosted a seminar to discuss the effectiveness of market mechanisms and how best to design future regulation of public service markets.

Consultation on online consumer protection

Protecting UK consumers online is the focus of a long-term strategy launched for consultation by the OFT.

Rogue doorstep traders

Supported by several high profile stars including Esther Rantzen, the OFT urged householders to be cautious and take time to think about people who call at the door over the summer months.