A competition regulator is the institution that oversees the functioning of the markets. And the Law in which it takes cognizance of situations having any type of impediments and distortions on the markets and correct them is the competition law (also known as anti-trust law). In general it is an government agency, typically a statutory authority, sometimes called an economic regulator, that regulates and enforces competition laws and may sometimes also enforce consumer protection laws. In addition to such agencies, there is often another body responsible for formulating competition policy.
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|Enforcement authorities and organizations|
Many nations implement competition laws, and there is general agreement on acceptable standards of behaviour. The degree to which countries enforce their competition policy varies substantially.
Competition regulators may also regulate certain aspects of mergers and acquisitions and business alliances and regulate or prohibit cartels and monopolies. Other government agencies may have responsibilities in relation to aspects of competition law that affect companies (e.g., the registrar of companies).
Regulators may form supranational or international alliances like the ECN (European Competition Network), the ICN (International Competition Network), and the OECD (Organisation for Economic Co-operation and Development).