CAT quashes Competition Commission’s decision to impose Point of Sale Prohibition (POSP) as part of its remedies package for Payment Protection Insurance
An application by Barclays Bank plc for a review under section 179 of the Enterprise Act 2002 of certain findings made by the Commission contained in a report entitled “Market investigation into payment protection insurance” was decided today. The Commission found that there were features of the PPI market which prevented restricted or distorted competition in connection with the supply of PPI in the United Kingdom.
The Tribunal concluded that the Commission had failed to take into account the loss of convenience which would flow from the imposition of the POSP in assessing whether it was proportionate to include it in its proposed remedies package. In the Tribunal’s view, this constituted a failure to take into account a relevant consideration, and the Tribunal has therefore decided to quash that part of the Report which imposes the POSP as part of the proposed remedies package and remit the question whether a POSP should be so included for the further consideration of the Commission in accordance with the principles set out in the Tribunal’s judgment.
John Swift QC, Kassie Smith and Elisa Holmes represented the Commission
Paul Lasok QC and Tim Ward represented the intervening party, Shop Direct Group Financial Services Ltd