From 1 April 2015, the FCA will be able to investigate breaches of the Competition Act, conduct market studies under the Enterprise Act 2002 and make market investigation references to the Competition and Markets Authority (CMA).
Recently, the FCA published a consultation paper “Competition Concurrency Guidance and Handbook amendments” setting out how it proposes to use its powers as a concurrent regulator. For the most part, the consultation does not raise any concerns – with the FCA indicating it will follow the established approach of the CMA. But our response to the consultation, which can be viewed by clicking on the link below, highlights three areas of concern that businesses in the financial sector should be aware of.
View Financial Conduct Authority gains concurrent competition powers on 1 April 2015, 1 April 2015