Govt Consultation On Policy On Market Fairness
The Ministry of Home Affairs has launched a consultation the Government’s policy on Market Fairness in Bermuda.
A Government spokesperson said, “The Ministry of Home Affairs is advancing the Government’s commitment made in the 2024 and 2025 Throne Speeches, to introduce modern competition legislation in Bermuda. As part of this work, the Ministry is consulting the public and stakeholders on the Government’s policy on Market Fairness in Bermuda.
“The policy provides the foundation for a proposed Competition Act 2026. The proposed law would establish rules to promote fair competition, address harmful business conduct, and provide for the review of certain mergers and acquisitions in essential sectors. Four principles govern the design: proportionality to Bermuda’s economic scale, a focus on harmful conduct rather than market position itself, priority attention to seven essential sectors, and transparency through the publication of key regulatory decisions and findings.
“The Government’s core objective is markets that work fairly for the consumers and businesses that depend on them. The framework would address anti-competitive harm that adds avoidable pressure to the cost of living, while recognising the realities of operating in a small island economy.”
“The consultation is on the policy. The views received will shape the drafting of the Competition Act 2026 before the Government brings legislation to the Legislature. The Ministry has engaged private sector project managers to support stakeholder engagement and the collection and analysis of feedback, and to keep the process transparent, consistent, and methodologically sound which will advance in the coming weeks.”
Minister of Home Affairs Alexa Lightbourne said, “Competition law is about markets that work fairly for the people and businesses that depend on them. In an economy of our size some concentration is inevitable. The question is whether the rules make that concentration serve consumers. This consultation asks Bermudians to help settle those rules. The views you share will shape the legislation the Government brings to the Legislature.”
A Government spokesperson added, “Through the consultation, the Ministry will hear from those the framework would affect, including consumers and members of the public, small, medium-sized, and large businesses, industry and professional associations, legal and regulatory bodies, and other identified groups.
“The consultative policy document is available online at forum.gov.bm/en/projects/promoting-competition-and-market-fairness-in-bermuda.
“The consultation remains open until 15 September 2026. All interested persons are encouraged to review the policy document [PDF] and share their views on any aspect of the proposals.”
How much will the inevitable Competition Commission cost each year and who will be appointed to it?
Will the cost of making Bermuda “fairer” be greater or less than the amount of monetary benefit to residents of Bermuda?