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Regulation and its Influence on Business Activity

Regulation and its Influence on Business Activity. BTEC Business. Why Regulate?. Anti-competitive practices Unfair trading Misleading marketing. Why Regulate?. Bodies have been set up to prevent firms engaging in these activities

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Regulation and its Influence on Business Activity

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  1. Regulation and its Influence on Business Activity BTEC Business

  2. Why Regulate? • Anti-competitive practices • Unfair trading • Misleading marketing

  3. Why Regulate? • Bodies have been set up to prevent firms engaging in these activities • Also, to protect other businesses and consumers from negative impacts

  4. Who Regulates? • The Office of Fair Trading can refer cases of uncompetitive practices to... • The Competition Commission - used to be called Monopolies and Mergers Commission • Advertising Standards Authority regulates non-broadcast adverts

  5. Regulation Law • The main legislation is the Competition Act 1998 and The Enterprise Act 2002 • It follows the provisions of European Community law • It grants new powers to authorities to ‘police’ anti-competitive activity • Also allows for damages to be sought by firms and consumers

  6. More on the Regulators The Competition Commission: • Independent public body • Makes in-depth enquiries into mergers and markets • In 2004, major enquiries were carried out into the sale by Morrison's the grocers of stores to Waitrose and Sainsbury's

  7. More on the Regulators Advertising Standards Authority: • Independent body • It administers the British Code of Advertising, Sales Promotion and Direct Marketing • In 2005, it upheld objections to campaigns by the David Lloyd Leisure group and SkyEurope Airlines

  8. More on the Regulators The Office of Fair Trading: • Advises firms on how to comply with the law • Upholds consumer rights • Ensures that firms compete fairly • In 2005, the areas investigated included residential care homes, the impact of public subsidies and Internet spam scams

  9. For More Information Visit the Regulators’ Web sites at: • http://www.oft.gov.uk • http://www.competition-commission.org.uk • http://www.asa.org.uk

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