UK:
FCA Launches Wholesale Sector Competition Review
25 July 2014
Shearman & Sterling LLP
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On 9 July 2014, the FCA launched a review of competition in the
wholesale sector, publishing a call for input from market
participants and stakeholders which aims to identify any areas that
warrant further study. The review focuses on the wholesale
securities and investment markets, including markets and market
infrastructure, investment banking activities, asset management and
corporate banking. It does not include payment systems, credit
rating agencies, benchmarking activities and wholesale insurance.
The review aims to establish areas in the wholesale sector where
competition is not working effectively covering issues such as
exploitation of market power, barriers to entry, expansion or
switching, flow of information between market participants, best
execution, cross-selling and conflicts of interest.
The FCA call for input is available at:
http://www.fca.org.uk/static/documents/market-studies/wholesale-sector-competition-review-call-for-inputs.pdf.
The content of this article is intended to provide a general
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