The FCA has published the terms of reference for its investment and corporate banking market study. The market study will examine whether there are areas of investment and corporate banking services where competition may not be working well. The FCA is focusing on primary market and related activities provided in the UK. The FCA is focusing on three key issues:
- choice of banks and advisers for clients;
- limited transparency in the provision of services; and
- practices of bundling and cross-subsidisation of services.
To hear views the FCA will be hosting a number of roundtables and/or bilateral meetings with stakeholders. It will also be approaching market participants for information and data to enable it to assess the issues set out above. If an interested party wishes to make any submissions on the topics raised in the terms of reference, they should send them to ICBmarketstudy@fca.org.uk by 22 June 2015. The FCA expects to publish an interim report around the turn of the year and a final report in spring 2016.