This is a really good moment for the MIA to remind those Members who retail instruments online to review their practices and ensure that they are in line with the latest Consumer Law – and the CMA’s pricing transparency guidance and unfair commercial practices guidance – to avoid the risk of enforcement action.
One area where MIA members might like to focus on is around delivery charges, and at what point these are detailed within the ‘invitation to purchase’ for consumers.
In particular, the CMA has identified concerns around pricing transparency and other consumer protection issues in online selling across 14 sectors. It has sent formal warning letters to 100 businesses, and has opened investigations into 8 businesses for practices such as automatically adding additional service costs to the consumer’s basket and misleading presentation of ‘time-limited’ offers.
To read the update from the CMA in full, please click on the following link: CMA launches major consumer protection drive focused on online pricing practices – GOV.UK
