The Office of Fair Trading (OFT) is a not-for-profit and non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforces both consumer protection and competition law, acting as the UK's economic regulator. The OFT's goal is 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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Famous quotes containing the words office of, office, fair and/or trading:
“The office of the scholar is to cheer, to raise, and to guide men by showing them facts amidst appearances. He plies the slow, unhonored, and unpaid task of observation.... He is the world’s eye.”
—Ralph Waldo Emerson (1803–1882)
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Making the hard way sweet and delectable.”
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His house among the local sheds and shanties
Rose like a factor’s at a trading station.”
—Robert Frost (1874–1963)