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Author: Great Britain: Competition Commission
Publisher: The Stationery Office
ISBN: 9780117080706
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
In this report the Competition Commission (CC) confirmed that it would introduce a remedies package based around a point-of-sale prohibition for all forms of payment protection insurance (PPI) (with the exception of retail PPI) after detailing how it will benefit customers. The point-of-sale prohibition would stop the completion of sales of PPI during the sale of the associated credit product such as a personal loan. It was one of a package of measures the CC planned to introduce following its investigation into PPI (2009, ISBN 9780117067363), which concluded that businesses that offer PPI alongside credit face little or no competition when selling PPI to their credit customers. The report and in particular the proposed point-of-sale prohibition were the subject of a legal challenge to the Competition Appeal Tribunal (CAT) by Barclays, supported by Lloyds Banking Group and Shop Direct Group Financial Services Ltd. Whilst upholding the CC's conclusions as to the competition problems in this market, the CAT ruled that it must in particular consider further the role and importance of a potential drawback to the prohibition, namely that it might inconvenience customers. Following the CAT's judgment, the CC carried out a detailed analysis of the likely effects of such a prohibition and concluded that the benefits of a package of remedies including the prohibition, by introducing greater competition and choice and lower prices to the market, would outweigh the disadvantages, in particular the potential inconvenience to some customers.
Author: Great Britain: Competition Commission
Publisher: The Stationery Office
ISBN: 9780117080706
Category : Business & Economics
Languages : en
Pages : 412
Get Book Here
Book Description
In this report the Competition Commission (CC) confirmed that it would introduce a remedies package based around a point-of-sale prohibition for all forms of payment protection insurance (PPI) (with the exception of retail PPI) after detailing how it will benefit customers. The point-of-sale prohibition would stop the completion of sales of PPI during the sale of the associated credit product such as a personal loan. It was one of a package of measures the CC planned to introduce following its investigation into PPI (2009, ISBN 9780117067363), which concluded that businesses that offer PPI alongside credit face little or no competition when selling PPI to their credit customers. The report and in particular the proposed point-of-sale prohibition were the subject of a legal challenge to the Competition Appeal Tribunal (CAT) by Barclays, supported by Lloyds Banking Group and Shop Direct Group Financial Services Ltd. Whilst upholding the CC's conclusions as to the competition problems in this market, the CAT ruled that it must in particular consider further the role and importance of a potential drawback to the prohibition, namely that it might inconvenience customers. Following the CAT's judgment, the CC carried out a detailed analysis of the likely effects of such a prohibition and concluded that the benefits of a package of remedies including the prohibition, by introducing greater competition and choice and lower prices to the market, would outweigh the disadvantages, in particular the potential inconvenience to some customers.
Author: Great Britain: Competition Commission
Publisher: The Stationery Office
ISBN: 9780117036727
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
In light of the concerns that have been raised about the lack of transparency of credit card charges in the UK, particularly in relation to interest rates charged for store card credit, this matter was referred by the Office of Fair Trading to the Competition Commission in March 2004. The Commission's inquiry focuses on two key aspects: store card credit services to retailers and related insurance services; and consumer credit through store cards and related insurance services. These cards offer a method of payment and credit option which are retailer-specific, and are mostly operated by department stores and clothing retailers. The investigation is based on data relating to the period from 1999 to 2003 (supplemented by relevant information for 2004 and projections for 2005 and 2006) and focuses on the functioning of the market as a whole rather than on the conduct of individual companies. Issues examined include: relevant economic markets and the wider regulatory framework; proposals to reform the legislation governing the credit market and statutory issues; factors that prevent, restrict or distort competition; detrimental effects on customers; and options for remedial action. The report finds that the interest rates charged on store cards are too high (generally annual percentage rates (APRs) of between 10 to 20 per cent above required levels), resulting in an estimated cost for consumers of at least £55 million a year and possibly significantly more. A number of remedies are identified that store card credit providers should make, including warning cardholders on monthly statements that cheaper credit may be available elsewhere; providing more and clearer information on all monthly statements; offering an option to pay by direct debit; and offering payment protection insurance separately from other elements of store card insurance.
Author: Juan Fernández de Guevara Radoselovics
Publisher: Springer
ISBN: 1137001860
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
Updated insight into key facts impacting on financial institutions after the financial crisis, highlighting areas of major policy and academic interest. The book includes ten chapters analysing contrasting issues such as intellectual capital, cost efficiency, bank stability, credit risk and business models for the wealth management industry.
Author: Massimo Motta
Publisher: Cambridge University Press
ISBN: 1009081462
Category : Business & Economics
Languages : en
Pages : 411
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Book Description
In many economic sectors – the digital industries being first and foremost – the market power of dominant firms has been steadily increasing and is rarely challenged by competitors. Existing competition laws and regulations have been unable to make markets more contestable. The book argues that a new competition tool is needed: market investigations. This tool allows authorities to intervene in markets which do not function as they should, due to market features such as network effects, scale economies, switching costs, and behavioural biases. The book explains the role of market investigations, assesses their use in the few jurisdictions where they exist, and discusses how they should be designed. In so doing, it provides an invaluable and timely instrument to both practitioners and academics.
Author: Geraint G. Howells
Publisher: Edward Elgar Publishing
ISBN: 1849806314
Category : Law
Languages : en
Pages : 603
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Book Description
This is a truly international effort, and one with a strong commitment to human rights by the highly reputable authors coming from different jurisdictions! The many facets of today s consumer law are presented to the reader, including developing countries a fascinating effort in a dynamically emerging field of law! We are comprehensively informed about such bread and butter areas as advertising, unfair terms, consumer guarantees, product safety and liability, consumer credit, and redress. But traditional consumer law concepts and remedies are facing challenges in more complex areas, like services of general internet where consumers and private users should enjoy equal access to universal services , with the internet where speed must not be a pretext to eliminate standards of fair dealing, with risky investment services under the problematic paradigm shift from investor protection to investor confidence . A book to read, to think about, to work with for everybody interested in the future of consumer markets and law in a time of economic crisis! Norbert Reich, University of Bremen, Germany This is a richly interesting collection of essays, written by leading names in the field. It offers a thoroughly reliable survey of key tensions and challenges in modern consumer law and brilliantly combines thematic overview with detailed analysis. It will stimulate comparative thinking, it will provide a source of information and it will be welcomed by consumer law scholars all over the world. Stephen Weatherill, University of Oxford, UK Consumer law and policy has emerged in the last half-century as a major policy concern for all nations. This Handbook of original contributions provides an international and comparative analysis of central issues in consumer law and policy in developed and developing economies. The Handbook encompasses questions of both social policy and effective business regulation. Many of the issues are common to all countries and are becoming increasingly globalised due to the growth in international trade and technological developments such as the Internet. The authors provide a broad coverage of both substantive topics and institutional questions concerning optimal approaches to enforcement and the role of class actions in consumer policy. It also includes comparative insights into the influential EU and US models of consumer law and relates consumer law to contemporary trends in human rights law. Written by a carefully selected group of international experts, this text represents an authoritative resource for understanding contemporary and future developments in consumer law. This Handbook will provide students, researchers and policymakers with an insight to the main policy debates in each context and provide models of legal regulation to assist in the evaluation of laws and the development of consumer law and policy.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264079661
Category :
Languages : en
Pages : 126
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Book Description
This book examines how markets have evolved and provides insights for improved consumer policy making. It explores, for the first time, how what we have learned through the study of behavioural economics is changing the way policy makers are addressing problems.
Author: Barry J. Rodger
Publisher: Taylor & Francis
ISBN: 0429955197
Category : Law
Languages : en
Pages : 403
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Book Description
Competition Law and Policy in the EU and UK provides a focused guide to the main provisions and policies at issue in the UK and EU, including topics such as anti-competitive agreements, abuse of dominance, mergers and Brexit. The book’s contents are tailored to cover all major topics in competition law teaching, and the authors’ clear and accessible writing style offers an engaging and easy-to-follow overview of the subject for course use. The sixth edition provides a full update for this well-established title and takes recent developments into account, including those in the case law surrounding the concept of ‘object’ agreements under Art 101 TFEU, the concept of abuse under Art 102 TFEU, the treatment of online multi-sided platform markets, and the development of private enforcement. Chapters focus on the substantive laws of the UK and EU and demonstrate how competition law affects business including co-ordinated action, pricing behaviour, takeovers and mergers. Information is presented within a structured framework, complete with discussion of the UK enforcement structures following the UK’s withdrawal from the EU. The book includes a wealth of pedagogical features, including chapter overviews and summaries, discussion questions and further reading. Clear, focused and student-friendly, this book offers a comprehensive resource for students taking competition law courses and will be of interest to postgraduate students and legal professionals looking for an introduction to the topic.
Author: Sandra Marco Colino
Publisher:
ISBN: 0198725051
Category : Law
Languages : en
Pages : 657
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Book Description
Competition Law of the EU and UK is the essential introduction to competition law. Clear and accessible, without compromising on rigor, it helps students to navigate all of the technicalities of competition law. With strong coverage of the economics underpinning the law, this text leads students through the complexities of competition law and helps them to understand its principles. Designed to bring the law to life, a range of learning features aid comprehension and invite students to think about the many applications of competition law. Key cases boxes provide lively discussion, and user-friendly flow charts and visual aids offer a stimulating approach to competition law, making it an ideal introduction to the subject for undergraduates and postgraduates new to this area of law. An Online Resource Centre accompanies this book and provides: Summary maps and key cases - downloadable for ease of use Multiple choice questions - to help students to self-check progress and understanding Table of OFT decisions - for quick reference Web links - to enable students to take their learning further
Author: Therese Wilson
Publisher: Routledge
ISBN: 1317113748
Category : Law
Languages : en
Pages : 273
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Book Description
This book explores the political, economic and regulatory context in which credit regulation is taking place following the global financial crisis. It suggests that current neoliberal economic policies favour multi-national corporations rather than consumers and examines regulatory responses to the internationalization of consumer finance protection. Detailing how EU consumers have been affected by national economic conditions, the book also analyses the lending regimes of Europe, Australia, the US and South Africa and offers suggestions for responsible lending to avoid over-indebtedness and corrupt mortgage-lending. Finally, new approaches and directions for consumer credit regulations are outlined, such as protection for small businesses, protection against risky credit products, reorganization of mortgage securitization and the possibility of a partnership model to address financial exclusion. The book includes contributions from leading names in the field of consumer law and will be invaluable to those interested in banking, business and commercial law.
Author: Gunnar Niels
Publisher: Oxford University Press, USA
ISBN: 0199588511
Category : Business & Economics
Languages : en
Pages : 637
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Book Description
Economics for Competition Lawyers provides a comprehensive explanation of the economic principles most relevant for competition law. Written specifically for competition lawyers, it uses real-world examples, is non-technical, and explains the key points from first principles.
