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OFT launches education campaign to warn of new powers

The Office of Fair Trading is launching an extensive education programme and compliance campaign to help businesses adhere to the Competition Act 1998.

In March 2000 new competition law prohibitions come into force giving the OFT new investigation and enforcement powers.

Business has 15 months to examine trading practices and train staff to comply with the Act.

The OFT will give early guidance to companies about prohibited agreements and how it will be implementing the new law and its priorities.


Old Mutual considers sale of life business

South African financial services group Old Mutual is reviewing its UK life insurance subsidiary as part of its plan to focus on asset management.Old Mutual closed its books to new life business last year but continues to manage existing business.A spokeswoman says the review was only started a few months ago and any decision on […]

OFT&#39s Bridgeman sets out ideas on benchmarked mortgages

The OFT is urging mortgage providers to develop a bench-mark-based code of practice to help produce a genuinely competitive market.OFT director general John Bridgeman, who was speaking at a Money Advice conference in London, said he believed that self-regulation would only be successful if product providers have standards to meet rather than laws to comply […]


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