The UK music industry is left facing an estimated £1m-plus bill after the Office of Fair Trading last week dropped its investigation into anti-competitive behaviour.

The expected financial cost to the business comes despite the OFT saying it will do nothing more than "continue to monitor" the situation, following an 18-month probe triggered by a complaint that the majors had "taken concerted action" to limit parallel imports into the UK. This, the complaint suggested, had been done to keep prices ...