Regulation

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Regulation

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Regulation

  1. 1. Regulation and its Influence on Business Activity BTEC Business
  2. 2. Why Regulate? <ul><li>Anti-competitive practices </li></ul><ul><li>Unfair trading </li></ul><ul><li>Misleading marketing </li></ul>
  3. 3. Why Regulate? <ul><li>Bodies have been set up to prevent firms engaging in these activities </li></ul><ul><li>Also, to protect other businesses and consumers from negative impacts </li></ul>
  4. 4. Who Regulates? <ul><li>The Office of Fair Trading can refer cases of uncompetitive practices to... </li></ul><ul><li>Competition Commission used to be called Monopolies and Mergers Commission </li></ul><ul><li>Advertising Standards Authority regulates non-broadcast adverts </li></ul>
  5. 5. Regulation Law <ul><li>The main legislation is the Competition Act 1998 and The Enterprise Act 2002 </li></ul><ul><li>It follows the provisions of European Community law </li></ul><ul><li>It grants new powers to authorities to ‘police’ anti-competitive activity </li></ul><ul><li>Also allows for damages to be sought by firms and consumers </li></ul>
  6. 6. More on the Regulators <ul><li>The Competition Commission: </li></ul><ul><li>Independent public body </li></ul><ul><li>Makes in-depth enquiries into mergers and markets </li></ul><ul><li>In 2004, major enquiries were carried out into the sale by Morrison's the grocers of stores to Waitrose and Sainsbury's </li></ul>
  7. 7. More on the Regulators <ul><li>Advertising Standards Authority: </li></ul><ul><li>Independent body </li></ul><ul><li>It administers the British Code of Advertising, Sales Promotion and Direct Marketing </li></ul><ul><li>In 2005, it upheld objections to campaigns by the David Lloyd Leisure group and SkyEurope Airlines </li></ul>
  8. 8. More on the Regulators <ul><li>The Office of Fair Trading: </li></ul><ul><li>Advises firms on how to comply with the law </li></ul><ul><li>Upholds consumer rights </li></ul><ul><li>Ensures that firms compete fairly </li></ul><ul><li>In 2005, the areas investigated included residential care homes, the impact of public subsidies and Internet spam scams </li></ul>
  9. 9. For More Information <ul><li>Visit the Regulators’ Web sites at: </li></ul><ul><li>http://www.oft.gov.uk </li></ul><ul><li>http://www.competition-commission.org.uk </li></ul><ul><li>http://www.asa.org.uk </li></ul>

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