The Financial Conduct Authority (FCA) obtains concurrent competition powers on April 1, 2015, enabling it to enforce the prohibitions on anti-competitive behaviour in the Competition Act 1998 (CA98) and the Treaty on the Functioning of the European Union (TFEU) in relation to the provision of financial services. The FCA will also have powers to carry out market studies, and make market investigation references to the Competition and Markets Authority (CMA) under the Enterprise Act 2002 (EA02), in relation to the provision of financial services.
On January 15, 2015, the FCA launched a consultation seeking views on draft guidance papers and amendments to the FCA handbook in relation to their exercise of these powers. Consultation closes on March 13, 2015.
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