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ARTICLE · 07 AUGUST 2014

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Fieldfisher
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Bankers are back in the news as the Competition and Markets Authority announced its recommendation for a market investigation into the banking sector.

United KingdomAntitrust/Competition Law
John Cassels
John Cassels

Bankers are back in the news in the UK today as the Competition and Markets Authority (CMA) announced its provisional recommendation for a market investigation into the banking sector, looking specifically at services provided for personal consumer accounts (PCAs) and small and medium sized enterprises (SMEs). The markets are worth £8bn and £2bn respectively.

The SME banking case was opened on 19 June last year, with the CMA beginning to investigate PCAs on 4 April this year. The consultation into their provisional decision (covering both investigations) will remain open until 17 September 2014, during which time interested parties are invited to make written representations. It is expected to publish its final decision in relation to a market investigation reference in the autumn.

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