Company directors could be disqualified for serious breaches of consumer laws and boards could be overhauled by the Competition and Markets Authority under far-reaching proposals to broaden its powers. Lord Tyrie, the regulator’s chairman, has outlined a plan to extend the watchdog’s reach and to make it more nimble. The move comes less than a year after he took over the CMA last June and after a request by Greg Clark, the business secretary, for reforms. It also follows the authority’s intervention last week in Sainsbury’s proposed £12 billion merger with Asda, which has dealt a severe blow to the chances of the deal going through. The authority was set up in 2014 after the merger of the Competition Commission and the Office of Fair
Sainsbury 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.