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ARTICLE · 14 NOVEMBER 2014

CMA Identifies Competition Concerns In Retail Banking

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We reported on 6 November that the Competition and Markets Authority has opened a market investigation into personal current accounts and SME banking (retail banking market investigation).

United KingdomAntitrust/Competition Law
Sam Szlezinger
Sam Szlezinger
Rebecca Owen-Howes
Rebecca Owen-Howes
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We reported on 6 November that the Competition and Markets Authority (CMA) has opened a market investigation into personal current accounts (PCAs) and SME banking (retail banking market investigation). On 12 November, the CMA published details of the members of the investigation group and the timetable for the investigation, as well as publishing the Issues Statement which explains the scope of the investigation and possible competition concerns which the CMA will investigate. The deadline for comments to be submitted to the CMA on the Issues Statement is 3 December.

Timetable going forward

The main steps in the CMA's investigation are summarised in the table below. As we noted in our earlier report, the CMA is also reviewing the undertakings given by nine banks in 2002 relating to SME banking. Although this is a separate investigation, the CMA has said that its reviews of both the retail banking sector and the SME banking undertakings will be carried out

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