The UK FCA is empowered to promote effective competition in the interest of consumers in the markets for regulated financial services

Summary From 1 April 2015, the Financial Conduct Authority ("FCA") is empowered under the Competition Act 1998 ("CA98") to promote effective competition in the interest of consumers in the markets for regulated financial services. This change allows the FCA to be a concurrent enforcer of competition law in the financial services sector together with the Competition and Markets Authority ("CMA") applying a web of legislation including the CA98, the Enterprise Act 2002 ("EA02") and the Financial Services and Markets Act 2000 ("FSMA") as well as EU competition laws where it will have concurrent powers with the European Commission. The FCA also became a member of the European Competition Network. In advance of these powers becoming effective, the FCA published a public consultation set

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

  • DLA Piper (London)

Quotation

Ilan Sherr, The UK FCA is empowered to promote effective competition in the interest of consumers in the markets for regulated financial services, 1 January 2015, e-Competitions January 2015, Art. N° 73067

Visites 206

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues