January 31, 2015 11:13 AM ET

Company Overview of Office of Fair Trading

Company Overview

Office of Fair Trading is based in UK.

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United Kingdom

Key Executives for Office of Fair Trading

Chief Operating Officer
Senior Director and General Counsel
Executive Director of Policy and Strategy
Head of External Relations
Compensation as of Fiscal Year 2014.

Office of Fair Trading Key Developments

Office of Fair Trading Announces Executive Changes

Office of Fair Trading has appointed Nisha Arora as Senior Director of its Services, Infrastructure and Public Markets Group, on temporary promotion. Nisha will be jointly responsible, with Senior Director Ann Pope, for leading this Group. Nisha will have specific responsibility for leading on a number of projects and wider issues in the OFT's markets portfolio. She will be a member of the Policy Committee, and will also oversee the transition of the OFT's functions to the Competition and Markets Authority and other organizations. Ann will continue to specialize in leading work on competition enforcement and some commercial markets. Both will be involved in decision making on Competition Act cases. Nisha, who is currently a Director in Services, Infrastructure and Public Markets, will start in her new role on 1 July. She replaces Mary Starks who will be leaving the organization to join the Financial Conduct Authority.

GlaxoSmithKline plc Could Face Heavy Fines over Seroxat Deals

GlaxoSmithKline plc could face heavy fines after the competition watchdog accused it of paying rivals to delay the launch of cheaper versions of a best-selling anti-depressant. The Office of Fair Trading (OFT) said Glaxo struck illegal deals with competitors to prevent them making cheap copies of its Seroxat treatment. It accused Britain’s biggest drugs company of abusing its dominant market position by making 'substantial' payments to three companies in a practice that prevented the NHS making significant savings. During the four-year period covered by the OFT’s investigation, the NHS was spending £100 million a year on Seroxat. Glaxo firmly denied any wrongdoing and said it supported fair competition and strongly believe that acted within the law. Under the so-called 'pay-for-delay' agreements, the OFT said Glaxo accused rivals Alpharma, Generics and Norton Healthcare of infringing its patents and that between 2001 and 2004 made payments to them in return for delaying the launch of generic paroxetine products in competition to Seroxat. The OFT has given Glaxo and the three companies until August to make submissions after which it will either close the case or launch a prosecution. If the case goes to trial and Glaxo is found guilty it could be fined up to 30% of its turnover relating to the product.

Office of Fair Trading Announces Executive Changes

The Office of Fair trading has named Chris Walters as its new chief economist. Walters will join in April, replacing Amelia Fletcher who is set to leave the organisation to take up a professorship at the University of East Anglia. Walters has been at the OFT since 2007 and is currently director of economics in the goods and consumer group and in his new role he will report into chief executive Chris Maxwell.

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