Competition Markets Authority
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The Competition and Markets Authority (CMA) has published its compliance advice for trader recommendation platforms (TRPs). The purpose of the compliance advice is to help TRPs comply with their legal obligations. It sets out 6 principles, followed by practical illustrative examples, which TRPs should comply with tostay on the right side of the law. Increased compliance enhances consumer protection and maintain a fair and transparent trading environment among TRPs when presenting and supplying their services to consumers in the UK.
Alongside this compliance advice, the CMA has published a summary at a glance. This is a snapshot of the 6 key principles TRPs should follow to stay on the right side of the law, together with some examples of dos and donts, that should be read alongside the compliance advice.
The CMA has also published a response to its public consultation on the draft compliance advice including details, where relevant, of the changes made to the draft as a consequence of comments received.
The CMA has also published practical tips for consumers to help them when using TRPs to find a reliable trader.
Read the press release: CMA tips: How to navigate finding a recommended trader online (12.11.24)