The Association of British Insurers (ABI) has also agreed to an immediate audit of old and high-charging schemes which the OFT
fears may not be delivering value for money.
But furious MPs demanded to know why the OFT
had failed to spot the problem.
According to the OFT
the new guidelines are intended to ensure that consumers can trust supermarket offers to be fair and meaningful regarding the value of the product or the existence of a discount.
One complaint to the OFT
was over a mobility scooter sold on the doorstep at pounds 3000 above the RRP.
Sports Direct chairman Keith Hellawell said: "We welcome the announcement by the OFT
Sonya Branch, OFT
senior director of services and public markets, said the OFT
is currently seeking views on the scope of its study.
The EC has until January 6 to decide whether to let the OFT
take over, after which the OFT
would have up to 45 working days to refer it to the Competition Commission.
Camra criticised the OFT
decision and vowed to keep up the pressure to see the beer tie reformed.
spokesman said: "The OFT
is investigating suspected cartel activity involving commercial vehicle manufacturers in the UK.
Customers who go into unauthorised overdraft have seen the average penalties ease back from pounds 30 per transaction in 2007 to pounds 22, the OFT
Earlier this year, following OFT
intervention, Ryanair promised to take steps to increase the clarity and transparency of its website and other advertising.