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Competition compensation schemes guidance 21/08/2015 New guidance has been published by the Competition and Markets Authority on voluntary redress schemes in competition cases.

Competition compensation schemes guidance

New guidance has been published on voluntary redress schemes in competition cases. It comes ahead of the coming into force of a new power enabling the Competition and Markets Authority (CMA), or a sector regulator with concurrent competition powers, to approve such schemes.

The guidance, published by the CMA, describes how businesses setting up voluntary redress schemes can, in certain circumstances, receive a discount of up to 20% of any penalty imposed by the CMA for a breach of competition law.

It provides details on how businesses can apply to the CMA for approval of a scheme, how it will consider such applications, the procedural framework for determining levels of compensation, and how schemes should operate.

It is aimed principally at businesses seeking to provide compensation under a voluntary redress scheme and those appointed to determine appropriate compensation in relation to such a scheme. The CMA also plans to publish a complementary ‘quick guide’ for consumers and small and medium-sized enterprises considering claiming redress under approved voluntary schemes.

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