CMA appoints 12 new panel members with expertise spanning energy, financial services, technology and competition law
On 1 September 2026, the Competition and Markets Authority (CMA) announced the appointment of 12 new independent panel members by the Department for Business, Innovation, Science and Trade (DBIST). Six appointments took effect on 1 September 2026 and six will follow on 1 October 2026. Panel members are appointed for up to eight years and serve as independent decision-makers in the CMA's most consequential work, including phase 2 market investigations (deep-dive inquiries into entire markets), merger inquiries, and regulatory appeals. The new cohort brings expertise in energy markets, financial services, competition economics, technology and telecommunications, and competition law. Named appointees include Vicky Boiten-Lee, an energy and retail executive; Martina Garcia, a financial services economist with senior experience at the London Stock Exchange Group and HM Treasury; Stephen Unger, a former Ofcom executive board member; and Patricia Treacy, a competition and intellectual property lawyer and former partner at Bristows. Other appointees include academics from the University of Bristol and Queen Mary University of London, and senior regulatory practitioners with backgrounds at the OFT and Ofgem. The panel currently consists of 22 members; these appointments expand its capacity for independent decision-making across a caseload that has grown alongside UK merger control and market investigation activity since Brexit.
Why this matters
Expanding the CMA panel directly increases the authority's capacity to run simultaneous phase 2 investigations and complex regulatory appeals, which matters at a time when the CMA's post-Brexit caseload has grown significantly. The inclusion of specialists in energy, digital markets, and financial services signals areas where the CMA expects continued investigative activity. For businesses planning mergers or operating in regulated sectors, a larger and more specialised panel means phase 2 processes are better resourced to scrutinise complex cases.
On the Ground
Competition law practices will track these appointments closely because panel composition shapes the analytical culture of phase 2 reviews. Firms advising on mergers with potential CMA scrutiny will need to factor in the panel's strengthened economics and sector expertise when preparing remedies proposals and economic evidence. A trainee on a competition clearance matter would assist with regulatory notification drafting, maintain a CP checklist, and coordinate local counsel instruction letters for multi-jurisdictional filings.
Interview prep
Question you might get
“What is the role of the CMA's inquiry panel in a phase 2 merger investigation, and why does the composition of that panel matter for deal counsel?”
Sign up free to see the full answer
A model answer you can lift into an interview — how to frame this story for a partner.
Sign up freeMy notes
saved