UK company directors could be disqualified for breaking consumer laws under proposals from the Competition and Markets Authority (CMA), which would also allow it to overhaul the company’s board. Business secretary Greg Clark had asked for reforms at the organisation, and CMA chair Lord Tyrie said the regulator had to meet the challenge of a digital economy at a time when the public was losing trust in authority. He said he would prioritise consumers’ interests and investigate problems quickly. The FCA has been criticised by some MPs over its handling of complaints about Vodafone.
UK company directors could be disqualified for breaking consumer laws under proposals from the Competition and Markets Authority (CMA), which would also allow it to overhaul the company’s board. Business secretary Greg Clark had asked for reforms at the organisation, and CMA chair Lord Tyrie said the regulator had to meet the challenge of a digital economy at a time when the public was losing trust in authority. He said he would prioritise consumers’ interests and investigate problems quickly. The CMA also wants to be able to take action against a company and impose fines without using the courts.