header-logo header-logo

15 February 2007
Issue: 7260 / Categories: Legal News , Property , Competition
printer mail-detail

Payment protection under scrutiny

News

The Competition Commission is inviting evidence from interested parties following the Office of Fair Trading’s (OFT’s) decision to refer the market for the supply of payment protection insurance in the UK to the commission.
The market reference follows an initial OFT study into the sector and a public consultation.

John Fingleton, OFT chief executive, says: “Our examination of the evidence presented to date gives us reasonable grounds to suspect that there are features of this market which restrict competition.

“Despite some evidence of a degree of consumer satisfaction with aspects of the product, the evidence as a whole suggests consumers get a poor deal. This referral will enable the Competition Commission to undertake a thorough investigation of the market and, if necessary, ensure that appropriate remedies are put in place.”

However, Michael Coogan, director general of the Council of Mortgage Lenders, says: “This referral sends out entirely the wrong message to consumers.

“While we will co-operate as fully as possible with the Competition Commission to examine the issues, we are extremely disappointed that the special and unique position of mortgage payment protection insurance has been ignored by the OFT in reaching this counter-productive decision.”
Interested parties are asked to write to the commission before 2 March 2007.

More information is available at www.competition-commission.org.uk.
 

Issue: 7260 / Categories: Legal News , Property , Competition
printer mail-details

MOVERS & SHAKERS

NLJ Career Profile: John McElroy, London Solicitors Litigation Association

NLJ Career Profile: John McElroy, London Solicitors Litigation Association

From first-generation student to trailblazing president of the London Solicitors Litigation Association, John McElroy of Fieldfisher reflects on resilience, identity and the power of bringing your whole self to the law

Clarke Willmott—Elaine Field

Clarke Willmott—Elaine Field

Planning and environment team expands with partner hire in Manchester

Birketts—Barbara Hamilton-Bruce

Birketts—Barbara Hamilton-Bruce

Firm appoints chief operating officer to strengthen leadership team

NEWS
A wave of scandals has reignited debate over misconduct in public office, criticised as unclear and inconsistently applied. Writing in NLJ this week, Alice Lepeuple of WilmerHale says the offence’s ‘vagueness, overbreadth & inconsistent deployment’ have undermined confidence
FIFA’s 2026 Men's World Cup is already mired in controversy, with complaints over ‘excessive prices’ and opaque ticketing. Writing in NLJ this week, Professor Dr Ian Blackshaw of Valloni Attorneys warns that governing bodies may face scrutiny under EU competition law, with allegations of a ‘dominant—if not monopolistic—position’ in ticket sales
Ten years after Brexit, UK and EU trade mark regimes are drifting apart in practice if not principle. Writing in NLJ this week, Roger Lush and Lara Elder of Carpmaels & Ransford highlight tighter UK scrutiny after SkyKick, where overly broad filings may signal ‘bad faith’
A landmark Supreme Court ruling has underscored the sweeping reach of UK sanctions. In NLJ this week, Brónagh Adams and Harriet Campbell of Penningtons Manches Cooper say the regime is a ‘blunt instrument’ requiring only a factual, not causal, link to restricted goods
Fraud claims are surging, with England and Wales increasingly the forum of choice for global disputes. Writing in NLJ this week, Jon Felce of Cooke, Young & Keidan reports claims have risen sharply, with fraud now a major share of litigation and costing billions worldwide
back-to-top-scroll