Ofcom, the UK telecoms and internet watchdog has removed some of the regulations that surround the broadband market.

The decision, the group said, is part of its plans to continually review, and remove regulations in order to promote innovation and investment in the broadband arena. By removing regulations in areas where there is already effective competition Ofcom believes that it can promote more investment and innovation.

In light of this the group will deregulate almost 70 per cent of the UK wholesale broadband, meaning that competing providers will have a level playing ground in which to operate.

However, where competition is not so open, where for example, the incumbent telecoms provider is dominant, Ofcom will continue to moderate and regulate on broadband provision, making it easy for smaller firms to take on, and offer out, wholesale internet connections.

Ed Richards, Ofcom Chief Executive said, "This is a major step forward in the UK broadband market reflecting the success we have had in promoting effective competition. It shows that we are determined to deregulate wherever we can do so in a way that is consistent with the broader public interest." He added, "We now need to build on these foundations and see timely investment and a competitive market emerge for next generation access as well."