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Competition and Markets Authority and Financial Reporting Council: Staff

Answer

Since 2005, the remits of the Competition and Markets Authority (CMA), which became operational on 1 April 2014, and the Financial Reporting Council (FRC) have expanded in scope to undertake additional functions at the request of government.

The CMA's responsibilities in respect of competition enforcement and merger control have increased following the UK’s departure from the EU, as well as taking on new statutory functions and responsibilities under the UK Internal Market Act 2020, and the Digital Markets, Competition and Consumers Act 2024.

The FRC took on formal responsibility for actuarial oversight and standard-setting in 2006, for stewardship in 2009 following the Walker Review, as well as being designated as the competent authority for audit in 2016.

Year	Budget £m		Headcount
	CMA	FRC	CMA	FRC
2005-2006	-	12.5	-	62
2006-2007	-	13.5	-	76
2007-2008	-	14.7	-	81
2008-2009	-	17.9	-	82
2009-2010	-	19.7	-	90
2010-2011	-	21.6	-	102
2011-2012	-	22	-	102
2012-2013	-	22.4	-	114
2013-2014	-	24.5	-	134
2014-2015	63.1	32.1	653	151
2015-2016	66.1	33.7	641	161
2016-2017	66.3	33.5	580	171
2017-2018	64.0	35.3	640	192
2018-2019	99.9	35.8	854	210
2019-2020	112.9	41.7	899	243
2020-2021	95.7	45.4	847	326
2021-2022	100.6	51.5	875	391
2022-2023	121.9	59.8	928	443
2023-2024	129.4	66.3	1,088	477
2024-2025	144.0	71.5	1,130	459

Secondary information

Type

Written question

Reference

88321

Session

2024-26

Grouped for answer

Yes

Subjects

Staff Financial Reporting Council Competition and Markets Authority

Contains statistics

Yes

Link

View this Written question on www.parliament.uk