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Office of Fair Trading
English Wikipedia - The Free Encyclopedia
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Office of Fair Trading
The
Office of Fair Trading
(
OFT
) was a
not-for-profit
and
non-ministerial government department
of the
United Kingdom
, established by the
Fair Trading Act 1973
, which enforced both
consumer protection
and
competition law
, acting as the UK's
economic regulator
. The OFT's goal was to make markets work well for consumers, ensuring vigorous
competition
between fair-dealing businesses and prohibiting unfair practices such as rogue trading,
scams
and
cartels
. Its role was modified and its powers changed with the
Enterprise Act 2002
.
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