CMA board meeting minutes: March 2026

The meeting was attended by teams from across the CMA including from Strategy, Comms and Advocacy.

The Chair welcomed members to the meeting.

2. Microsoft Ecosystem: SMS investigation proposal

The Board received an update on the SMS designation investigations. The Board agreed to launch an SMS investigation to decide whether to designate Microsoft as having SMS in respect of its business software ecosystem and agreed the proposed approach to governance, engagement and communications.

The Board approved the appointment of Cyrus Mehta as Panel Chair, with delegation of the CMA Chair’s Panel functions to take effect from September 2026.

The Board approved the minutes of the Board meetings held on 25 February 2026.

The Board noted the approval, by correspondence on 19 March 2026, of a market study into heating oil. Approval of the launch documentation was delegated to the Chair and CEO.

The Board was updated on and discussed recent developments in the CMA’s portfolio and risk profile. It also reviewed the external guidance tracker and the finance update for January (P10).

The Board received an update on the Civil Engineering market study. The Board noted the planned approach to finalising the report.

The Board received an update on potential work relating to the early years childcare sector. The Board noted the planned next steps.

7. Mergers 4Ps implementation and portfolio update

The Board received an update on mergers work, including performance and portfolio developments. The Board noted the strong progress made on the delivery of the 4Ps.

8. Direct consumer enforcement: approach to concurrency