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UK Antitrust Chief Says New Penalties Aren’t Anti-Business

Law360 (May 8, 2019, 5:15 PM EDT) -- The head of the U.K.'s competition authority vigorously defended a set of proposals that would give the watchdog more teeth to use against companies that rip off consumers, arguing in a speech Wednesday that the power to levy more fines and bans would affect only bad actors, not honest firms.

"Some have said they are anti-business. That they will add to the regulatory burden. I disagree," Competition and Markets Authority chair Andrew Tyrie said. "The existing framework is not just letting consumers down. It is letting down those businesses — the vast majority — that compete fairly and play by the...

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