The UK Financial Conduct Authority launches a market study into cash savings and confirmed that the wholesale markets and pensions are also in its sights

On 09 September 2013, the Financial Conduct Authority announced that it was launching a market study into cash savings. The study is an early indicator of the type of issues that the FCA will tackle under its new competition remit, where it suspects that ineffective competition is leading to poor outcomes for consumers. It is also part of its schedule of competition work over the next 12 months affecting not just retail financial services, but also the wholesale markets (in particular asset management and equity underwriting), demonstrating the FCA’s determination to use its competition remit as a regulatory tool to ensure good outcomes for market participants. Cash savings The cash savings market is one that affects large numbers of consumers (over 80% of adults in the UK having some

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  • Simmons & Simmons (London)

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Peter Broadhurst, The UK Financial Conduct Authority launches a market study into cash savings and confirmed that the wholesale markets and pensions are also in its sights, 9 September 2013, e-Competitions Bulletin September 2013, Art. N° 77270

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