The Competition and Markets Authority, following its provisional decision of 18 July 2014, has launched a market investigation into the personal current account and SME retail banking sectors.
The investigation is aimed at finding out if low levels of customers shopping around and switching, limited transparency of the market, barriers to entry, stability of market shares of the 4 largest banks over time, are indicative of a restriction of competition in the relevant market.
To this end, the CMA has formed a Market Reference Group that will investigate in detail and decide what action, if any, may be needed to improve competition for the benefit of personal and small business customers.
Once formally appointed all the members, the group will publish a timetable for the various stages of the investigation and will set out the investigation’s proposed focus.
The official press release of the CMA is available here.
Source: CMA
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Osservatorio Permanente Applicazione delle Regole di Concorrenza
THE CMA OPENS AN INVESTIGATION IN THE PERSONAL CURRENT ACCOUNT AND SME RETAIL BANKING SECTORS
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