Office of Fair Trading (OFT)

The Office of Fair Trading (OFT) was a UK government agency responsible for promoting fair competition and protecting consumer interests. Established in 1973, its main roles included investigating unfair business practices, enforcing consumer protection laws, and ensuring markets function fairly. The OFT aimed to prevent monopolies and promote a level playing field for businesses, ultimately benefiting consumers through better choices and prices. In 2014, its functions were transferred to the Competition and Markets Authority (CMA), which continues to carry out these important roles today.