The UK’s competition watchdog has launched a probe into Britain’s £2 billion (US$2.7 billion) funerals market amid fears that bereaved families are being ripped off, reported The Guardian.
The Competition and Markets Authority (CMA) plans to examine whether funeral directors are “clear enough” when explaining prices to often “very emotionally vulnerable” customers.
It will also look at whether the information provided by funeral directors on prices and services is too confusing for people to be able to choose the best option for them.
“Profit margins in the ‘at-need’ funeral market have been inflated for years,” says James Daley, managing director at consumer group Fairer Finance.
“Customers who buy funerals are grieving and have no idea what a fair price for a funeral is. And sadly they have proved far too easy to take advantage of. This market needs tighter regulation and better protections for consumers.”
Full Content: The Guardian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canada’s Agricultural Giants in Antitrust Spotlight
Apr 23, 2024 by
CPI
US House Passes Bill That Could Lead to TikTok Ban
Apr 23, 2024 by
CPI
ADM CFO Resigns Amidst DOJ Investigation into Accounting Issues
Apr 23, 2024 by
CPI
FTC Throws the Bag: Tapestry’s Capri Deal Blocked Over Market Monopoly Concerns
Apr 22, 2024 by
CPI
Italy’s Antitrust Authority Investigates Enel’s Communication of Energy Price Hikes
Apr 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI