The UK’s competition watchdog has announced a wide-ranging review of existing market rules in a move aimed at easing regulatory pressure on thousands of businesses across the country, including those operating in financial services, travel and energy.
The Competition and Markets Authority (CMA) said it will reassess a significant number of market remedies currently in force to determine whether they are still needed in today’s rapidly changing economy. The review is designed to ensure that regulation remains effective while avoiding unnecessary costs for businesses that may no longer face the competition problems these measures were originally introduced to address.
Market remedies are typically imposed following in-depth investigations where competition issues are identified. While they play a vital role in protecting consumers, they also require companies to spend time, money and resources on compliance. The CMA says that as markets evolve, some remedies can become outdated or overtaken by new laws, digital innovation and changing consumer behaviour.
After an initial assessment, the regulator has identified 33 remedies around 60 per cent of all market remedies currently in place that may no longer be fit for purpose. These include rules introduced more than a decade ago when industries operated very differently from today.
One example under consideration involves marketing restrictions on large travel firms, many of which were introduced at a time when most holidays were booked in physical stores rather than online. Removing or updating these requirements could significantly reduce compliance costs for travel companies now operating in a predominantly digital marketplace.
Major retail banks could also benefit from the review. The CMA is considering scrapping requirements for banks to provide customers with payment transaction histories in prescribed formats, given that most consumers can now access detailed and up-to-date account information instantly through online and mobile banking platforms.
Not all remedies will be reviewed. The CMA has made clear that measures which continue to deliver clear benefits for consumers will remain untouched. These include protections ensuring families have transparent information when arranging funeral services, as well as reforms designed to help households and small businesses move away from expensive energy tariffs and secure better deals.
Sarah Cardell, Chief Executive of the CMA, said the review reflects a more modern and proportionate approach to regulation. She stressed that while remedies remain essential for safeguarding competition, they must also deliver real impact.
She said the CMA wants to ensure only remedies that genuinely protect consumers and competition remain in place, while removing unnecessary barriers that slow businesses down. According to Cardell, cutting outdated rules will save companies time and money and help reinforce the UK’s reputation as an attractive place to do business and invest.
For businesses owned or run by members of the African, Caribbean and wider global diaspora, many of whom operate across borders or in highly regulated sectors, the review could offer welcome relief. Reduced red tape may make it easier for entrepreneurs to grow, invest and compete more effectively in the UK market, particularly in industries such as finance, travel and energy where compliance costs can be significant.
The CMA has launched a public consultation on the proposed changes, which will run until Monday 2 March 2026. Businesses, consumer groups and other stakeholders are encouraged to share their views before any final decisions are made. The regulator has also recently opened a separate consultation on merger remedies as part of its broader effort to modernise the UK competition framework.
