A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the

competition law Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust l ...

(also known as antitrust law). In general it is a

government agency A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an administrati ...

, typically a

statutory authority A statutory body or statutory authority is a body set up by law (statute) that is authorised to implement certain legislation on behalf of the relevant country or state, sometimes by being Primary and secondary legislation, empowered or deleg ...

, sometimes called an

economic regulator A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulatin ...

, that regulates and enforces

s and may sometimes also enforce

consumer protection Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent business ...

laws. In addition to such agencies, there is often another body responsible for formulating

competition policy Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust ...

. Many nations implement competition laws, and there is general agreement on acceptable standards of behaviour. The degree to which countries enforce their competition policy varies substantially. Competition regulators may also regulate certain aspects of

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

and business alliances and regulate or prohibit cartels and monopolies. Other government agencies may have responsibilities in relation to aspects of competition law that affect companies (e.g., the registrar of companies). Regulators may form supranational or international alliances like the ECN (

European Competition Network The European Competition Network (ECN) consists of the 28 competition authorities within the European Union (see below for details) and the DG Competition of the European Commission. The ECN has no new authority and has consequently no rights over ...

), the ICN (

International Competition Network The International Competition Network (ICN) is an informal, virtual network that seeks to facilitate cooperation between competition law authorities globally. It was established in 2001 after the publication of a Final Report of the International ...

), and the

OECD The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate e ...

(

Organisation for Economic Co-operation and Development The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organization, intergovernmental organisation with 38 member countries ...

List of trade blocs and multinational regulators

List of national regulators

References

External links

* {{cite web, url=http://www.ftc.gov/oia/authorities.shtm, title=Competition & Consumer Protection Authorities Worldwide, author=Federal Trade Commission, date=July 24, 2013, author-link=Federal Trade Commission Competition (economics) Anti-competitive practices Imperfect competition Monopoly (economics)

List of trade blocs and multinational regulators

List of national regulators

See also

References

External links