Tag Archives: Competition
The FCA has published its Asset Management Market Study Interim Report, which can be accessed here, with annexes. The FCA sets down a clear marker as to its direction of travel. Clearly uninhibited by Brexit on the horizon, it is … Continue reading
On 1 April 2015 the Financial Conduct Authority (FCA) obtained new concurrent competition powers under the Competition Act 1998 (CA98) and the Enterprise Act 2002 (EA02) for financial services in the UK. The Payment Systems Regulator (PSR) has also obtained … Continue reading
UK: FCA’s competition remit – new Memorandum of Understanding between the CMA and FCA sets out framework for co-operation between both regulators
The Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA) have agreed a new Memorandum of Understanding (MoU) which sets out a framework for co-operation between the two regulators in relation to competition issues, consumer protection, access to … Continue reading
The European Commission has published proposals for a Directive on the transparency and comparability of payment account fees, payment account switching and access to basic payment accounts.
The FSA and the Bank of England (BoE) have published the results of their review into barriers to new entrants to the banking sector. The Review sets out significant changes to regulatory requirements and authorisation processes which, taken together, aim to … Continue reading
The FCA’s Risk Outlook (FCA RO) has been published today, setting out the regulator’s current thinking on conduct in financial markets by analysing the root causes and emergence of conduct risk, and identifying the forward-looking risks that the FCA deems pose the greatest … Continue reading
The FSA is consulting (as it is required to do under the Act) on the new power given to the FCA under the Financial Services Act 2012 to issue temporary product intervention rules without the chore of a consultation (CP12/35). … Continue reading
The Office of Fair Trading (OFT) has published its review into the personal current account (PCA) market. A report evaluating the impact of the OFT’s market study and UTCCR test case into personal current accounts is also available.
The Herbert Smith financial services team recently hosted a roundtable discussion with high profile members of the financial services industry and a key policymaker at the FSA, to discuss product intervention and what shape the future landscape should take.
The FSA published a consultation paper yesterday confirming its intention to ban (i) payments from product providers to platforms; and (ii) cash rebates of product charges by product providers to consumers, in respect of sales of retail investment products. This is … Continue reading