23 October 2017

FCA to probe investment and corporate banking competition

19 February 2015  |  7066 views  |  0 London skyline - old Natwest tower and gherkin

The Financial Conduct Authority (FCA) is to launch its first wholesale market study into investment and corporate banking to assess whether competition in the sector is working properly.

This follows the publication of its review into competition in the wholesale sector, which found that limited clarity over price and quality of services may make it difficult for clients to assess whether they are getting value for money, and that the bundling and cross selling of services could make it difficult for new entrants or smaller established firms to challenge established large players in the market.

Christopher Woolard, director of strategy and competition, says: “What was clear from the discussions we had with stakeholders and firms was that there are unanswered questions about potential conflicts of interest and value for money in this market.”

Terms of reference for the invesitgation will be published in the Spring and will seek feedback from industry, trade bodies and clients.

During the wholesale sector review the FCA met with around 70 organisations and individuals, through a combination of round-tables and one-to-one meetings and received 40 written responses.

This provided feedback on other potential competition issues that might benefit from further investigation in the future, including:
  • How purchasers get value for money when buying asset management services.
  • The pricing and availability of data and related services.
  • Vertical integration of clearing and execution services.
  • The impact of a reduction in the number of clearing members and a lack of client clearing on over-the-counter (OTC) derivative markets.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

FCA bids to boost transparency in cash savings market

FCA bids to boost transparency in cash savings market

20 January 2015  |  2825 views  |  0 comments | 1 tweets | 1 linkedin
FCA examines move to full bank account portability

FCA examines move to full bank account portability

01 October 2014  |  8143 views  |  3 comments | 12 tweets | 5 linkedin
FCA to foster fintech innovation; Treasury pushes P2P, APIs and virtual currency

FCA to foster fintech innovation; Treasury pushes P2P, APIs and virtual currency

30 May 2014  |  15890 views  |  1 comments | 25 tweets | 17 linkedin
FCA sets out P2P lending and crowdfunding rules

FCA sets out P2P lending and crowdfunding rules

06 March 2014  |  6426 views  |  0 comments | 5 tweets | 13 linkedin
SEC proposes new crowdfunding rules; FCA begins consultation

SEC proposes new crowdfunding rules; FCA begins consultation

24 October 2013  |  5090 views  |  0 comments | 4 tweets | 3 linkedin
FCA kicks off review into mobile banking risks

FCA kicks off review into mobile banking risks

27 August 2013  |  7368 views  |  0 comments | 7 tweets | 7 linkedin
FCA slaps £5.6 million fine on RBS for transaction reporting failures

FCA slaps £5.6 million fine on RBS for transaction reporting failures

24 July 2013  |  7940 views  |  1 comments | 2 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.atos.netvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15180 views comments | 17 tweets | 29 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13509 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9945 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9915 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8919 views comments | 9 tweets | 18 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job