Storm, Premier, Models1 being investigated for violating 1998 Competition Act

In London today, three top agencies are being investigated for price fixing.

The Evening Standard reports:

Plainclothes officers attended at the headquarters of Storm Model Management, Premier Model Management and Models 1 in dawn raids as investigators probed claims they are working together as a secret cartel to drive up appearance fees, the Mail on Sunday reported.
Officials from the Competition and Markets Authority are investigating claims they have been driving up the cost of fees by meeting as a cartel to agree prices they charge to big brands and retailers.
London skyline | visitlondon.com

London skyline | visitlondon.com

If the agencies are found to have broken regulations laid out in the Competition Act 1998 or Article 101 of the Treaty on the Functioning of the European Union, they could face fines of up to ten per cent of their worldwide turnover.
 A spokesman for Models 1 told the newspaper it was "co-operating fully" with the investigation, while Storm Model Management and Premier Model Management declined to respond to requests for comment.

Read the full article here.