Part 1: Digital Markets Regulatory coordination and information sharing Section 108: Recommendations to the CMA
This section sets out a formal mechanism for the Financial Conduct Authority or the Office of Communications to make a recommendation to the CMA for it to exercise a regulatory digital markets function. This term is defined in section 118(1) and encompasses certain significant functions under the digital markets regime, including the discretionary opening of an SMS investigation, the imposition of a conduct requirement and the making of a PCI. This mechanism could for example be used in cases where the Financial Conduct Authority or the Office of Communications identify a potential competition concern specifically in digital markets, for which the CMA is considered to have the most suitable powers to take action. The CMA must respond to the relevant regulator within 90 days setting out what action, if any, it has taken or will take and the reasons for its decision. A summary of the CMA’s response must also be published online (see section 113(3)).