Transparency data

CMA Board meeting minutes: 17 April 2024

Published 3 June 2024

Meeting date: 17 April 2024

Venue: In the Cabot, London, and by videoconference

Members present

• Marcus Bokkerink (Chair)
• Joel Bamford
• Justin Basini
• Sarah Cardell (CEO)
• Martin Coleman
• Frank Dangeard
• Cynthia Dubin
• Will Hayter
• Dame Patricia Hodgson
• Cyrus Mehta
• Erik Wilson (COO)

Advisers present

• Juliette Enser, Interim Executive Director for Competition Enforcement
• Jessica Lennard, Chief Strategy and External Affairs Officer ^{[footnote 1]}
• George Lusty, Interim Executive Director for Consumer Protection and Markets
• Chris Prevett, General Counsel
• Mike Walker, Chief Economic Adviser

Apologies

• Dharmash Mistry
• Murdoch MacLennan

CMA staff present

• Kate Bridge, Director of Executive Office, Security, and Property
• Anthony Wright, Director, Communications ^{[footnote 2]}
• Sukhinder Lalli, Legal Director, Governance
• Board Secretary, Minutes

Teams

The meeting was attended by teams from across the CMA, including staff from Legal Services, Mergers, Strategy, Comms and Advocacy, and the Digital Markets Unit.

Minutes

The Board approved the minutes from the meeting of the Board on 20 March 2024, with no changes.

Introduction

1. Introduction

The Chair welcomed the Board members to the meeting.

Major developments in the external environment in which we operate

2. Chair and CEO comments

The Board considered the current opportunities and challenges facing the CMA.

Strategy, Portfolio and Risk Management

3. CEO update

The Board was updated on and discussed recent developments in the CMA’s portfolio, risk profile, and insights into AI foundation model markets. The Board also reviewed the corporate risk register, the external guidance tracker, and the monthly Finance update.

Policy and Cases

4. DMCC Bill Passage - 90 day plan

The Board discussed a proposal for an external engagement strategy for the first three months once the DMCC Bill receives Royal Assent, as we prepare for the formal establishment of the Digital Markets Unit. It gave steers on the proposed approach and requested a review of an updated approach in May.

5. Approach to political risk and engagement

The Board discussed the potential impact on the CMA of the upcoming General Election. The Board gave steers on steps to consider and asked the team to continue to engage with the Board over the spring/summer.

6. Decision making in the digital markets regime

The Board reviewed proposals for decision-making in the digital markets regime and gave steers on the governance arrangements for the new Digital Markets Board Committee including composition, membership and quorums, as well as access to decision-makers for different decisions and activities. It reviewed proposals for decision-making on matters not reserved for the CMA Board or the Digital Markets Board Committee. It noted that the May Board meeting will return to this topic.

7. Phase 2 merger process

The Board discussed and approved the final version of the revised CMA2 guidance, which sets out the proposed new phase 2 merger inquiry process, on which the CMA recently consulted. The Board also gave its perspectives on the plans for training staff and Groups on this new process and communicating it to parties. It noted that this process will come into effect for any new Phase 1 cases opened by the CMA from 25 April 2024 which are referred for an in-depth Phase 2 investigation.

8. SMS Merger reporting guidance

The Board reviewed and approved the draft SMS reporting guidance for consultation, delegating final sign-off to the CEO.

9. Digital markets competition regime draft guidance – Tranche 2

The Board gave its perspectives on this part of the guidance, noting that this completes the reviews of draft guidance for the new digital markets competition regime. It authorised the CMA to consult on it, delegating the sign off of the final version for publication to the CEO, unless material changes are required.

10. AOB

SAU Six monthly update April 24

The Board noted this update presented for information.

Consultations on CMA Administrative Penalties and Investigative Assistance Guidance The Board approved this draft guidance for consultation.

Mergers: Update to ‘de minimis’ exception

The Board approved the revisions to this guidance and the associated consultation response for publication on 25 April.

The Chair thanked the Board for the meeting.

1. JL joined the meeting for items 4 and 5. ↩

2. AW joined the meeting for items 3-5 ↩