Transparency data

CMA Board meeting minutes: 19 June 2024

Published 24 July 2024

Meeting date: 19 June 2024

Venue: In the Cabot, London, and by videoconference

Members present

• Marcus Bokkerink (Chair)
• Joel Bamford
• Justin Basini
• Sarah Cardell (CEO)
• Martin Coleman
• Cynthia Dubin
• Will Hayter
• Dame Patricia Hodgson
• Cyrus Mehta
• Dharmash Mistry^{[footnote 1]}
• Murdoch MacLennan
• Erik Wilson (COO)

Advisers present

• Juliette Enser, Interim Executive Director for Competition Enforcement
• Jessica Lennard, Chief Strategy and External Affairs Officer
• Chris Prevett, General Counsel
• Mike Walker, Chief Economic Adviser

Apologies

• Frank Dangeard
• George Lusty

CMA staff present

• Karen Croxson, Chief Data & Technology Insights Officer^{[footnote 3]}
• Jennie Halliday, Senior Director, Advocacy, Public Policy and International^{[footnote 2]}
• Anthony Wright, Interim Senior Director of Communications^{[footnote 3]}
• Kate Bridge, Director of Executive Office, Security, and Property
• Sukhinder Lalli, Legal Director, Governance
• Board Secretary, Minutes

Teams

The meeting was attended by teams from across the CMA, including staff from Strategy, Comms and Advocacy, Office of the Chief Economist, and the Digital Markets Unit.

Minutes

The Board approved the minutes from the meeting of the Board on 15 May 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 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 and risk profile. The Board also reviewed the corporate risk register and the external guidance tracker.

4. ARAC update

The Chair of ARAC updated the Board on the items discussed at its meeting on 17 June, and provided ARAC’s recommendation that the Board approve the Annual Accounts subject to minor drafting changes and the NAO’s Audit Completion Report.

5. Annual Report and Accounts 2023 to 2024 and Impact assessment 2023 to 2024

The Board formally approved: 

• the CMA’s Annual Report and Accounts 2023 to 2024 and delegated the sign off the final version and any non-substantive amendments to the Chief Operating Officer (and Additional Accounting Officer) in liaison with ARAC
• the CMA Annual Impact Assessment 2023 to 2024, noting that this will be published alongside the Annual Report and Accounts

6. Decision-making in the Digital Markets Regime

The Board discussed and agreed the proposals for the new Digital Markets Board Committee (DMBC) and formally agreed to establish the DMBC. It also approved the proposed Terms of Reference for this committee and its membership.

7. Introduction to upcoming strategy discussions

The Board prepared for the upcoming extraordinary board meeting on 25 June where it will discuss the CMA’s future strategy.

8. AOB

DMU update June 24

The Board noted this update presented for information.

Future of the Open Banking Committee

The Board dissolved the Open Banking Committee (OBC), noting that JROC is making progress towards the future state for Open Banking, the CMA staff team is providing ongoing oversight of the project and rigorous governance is now in place at the Open Banking Implementation Entity (OBIE); the Case and Policy Committee has appointed an Open Banking Steering Group to provide guidance to the CMA Open Banking staff team regarding the OBIE and any transition to a future entity, and to make recommendations to CPC on specific matters.

The Chair thanked the Board for the meeting.

1. DM left the meeting during item 7. ↩

2. KC and AW joined the meeting for item 3. ↩ ↩²

3. JH joined the meeting for items 3, 4 and 5. ↩