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News from the OFT
November 2009
Banks agree to more transparency
Following the OFT's 2008 Market Study, banks have agreed to make personal current account costs more transparent and the switching process more reliable and trusted.
Construction
The OFT has imposed fines totalling £129.5 million on 103 construction firms in England which it has found had colluded with competitors on building contracts.
In a separate case, the OFT has imposed fines totalling £39.27 million on six recruitment agencies for price-fixing and the collective boycott of another company in the supply of candidates to the construction industry.
Independent evaluation of OFT's consumer enforcement work
The OFT has published a report, commissioned from London Economics, which evaluates the impact of a sample of six completed consumer enforcement cases. The study found these six cases delivered positive benefits for consumers - totalling an estimated £243 million per year.
The role of self-regulation in the OFT's consumer protection work
The OFT has prepared a policy statement explaining the role of self-regulation in the OFT's consumer protection work.
Criminal charges in suspected pyramid scheme case
Three women have been charged by the OFT in connection with its ongoing investigation into a suspected unlawful pyramid scheme in the South West of England and Wales.
Updated consumer education programme
Skilled to go, the OFT's successful consumer education programme has been updated, providing teachers with new resources designed to turn students into confident consumers.
Market studies
Two separate market studies into advertising and pricing have been launched. The first looks at online targeting of advertising, the second at advertising of prices, including online.
A market study has also been launched into the corporate insolvency industry.
Following a two-month consultation on the findings of its market study into Isle of Wight ferry services, the OFT will not be referring the market to the Competition Commission at the present time.
'Your doorstep, your decision'
The OFT is launching the 'Your doorstep, your decision' campaign to raise awareness particularly among women over 70, their families, friends and carers, of how to handle the sales tactics used by rogue doorstep traders.
Over the next few months OFT will be launching campaigns on lottery scams, Consumer codes of practice and Scams awareness month.
OFT response to CAMRA super-complaint
The OFT has examined the issues raised in a super-complaint from the Campaign for Real Ale , and has not found evidence that supply ties are resulting in competition problems that are having an adverse impact on consumers.
Retirement homes exit fees
The OFT has sent draft undertakings to firms, seeking their committment to stop using 'exit fees'.
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John Fingleton reappointed as OFT Chief Executive
Four firms give the OFT undertakings about selling gym membership
Citizens Advice for Christmas savings campaign
Clearer terms for consumers buying home improvement materials agreed
OFT bans first estate agent for failing to join redress scheme
OFT publishes research as part of home buying market study
Friends Reunited merger referred to the Competition Commission
OFT will not refer the newspaper and magazine distribution sector to the Competition Commission
OFT consults on exceptions to duty to refer
Review of debt management practices
OFT refuses doorstep lender credit licence
Appeal tribunal upholds OFT refusal of credit licence to debt management firm
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