UK:
UK Financial Conduct Authority Reports On Wholesale Sector Competition Review
03 March 2015
Shearman & Sterling LLP
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On February 19, 2015, the Financial Conduct Authority published
a feedback report on its wholesale sector competition review,
announcing that it will be launching a wholesale market study into
investment and corporate banking to assess whether there is
adequate competition within this sector. The FCA wholesale sector
competition review found that a lack of transparency and clarity in
price and quality of services is preventing clients from being able
to tell whether they are getting good value for their money. The
review also found that the cross-selling and bundling of services
may be making it difficult for smaller firms to compete with larger
more established firms. The FCA intends to launch the market study
and publish the terms of reference in the second quarter of
2015.
The FCA feedback report is available at: http://www.fca.org.uk/static/documents/feedback-statements/fs15-02.pdf.
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