According to the Financial Times, the Competition and Markets Authority (CMA) has warned it will not have the resources to carry out some of its main functions if Britain leaves the EU in March 2019 without a deal in place.
In a draft annual plan for 2019-20, published on Monday, December 3, the CMA stated it expected to take “a bigger role on the world stage” post-Brexit as it assumes greater responsibility for competition enforcement, state-aid rules, and scrutiny of mergers and acquisitions.
“Responsibility for many cases affecting UK markets, previously considered exclusively by supranational institutions in Brussels and Luxembourg, will be acquired by British authorities and courts,” it said in the draft, the foreword to which was co-signed by Andrew Tyrie, CMA chair, and Andrea Coscelli, its chief executive.
Full Content: Financial Times
