Competition Markets Authority
Case timetable
| Date | Action |
|---|---|
| April 2022 to Spring 2023 | Investigation continuing next update by Spring 2023 |
| January 2021 to March 2022 | Investigation continuing, including further gathering and analysis of information and evidence |
| August 2019 to December 2020 | Initial investigation continuing, including review and analysis of information gathered |
| November 2018 to August 2019 | Initial investigation: information gathering, including issue of formal or informal information requests and responses |
| November 2018 | Investigation opened |
Case information
On 13 November 2018, the CMA launched an investigation into suspected anti-competitive arrangements in the financial services sector which may infringe the Chapter I prohibition of the Competition Act 1998 (CA98) and/or Article 101 of the Treaty on the Functioning of the European Union (TFEU).Following the end of the EU Exit Transition Period, the CMAs investigation continues into suspected anti-competitive arrangements which may infringe the Chapter I prohibition of the CA98.
The CMA and the Financial Conduct Authority (FCA) have concurrent functions to enforce competition law infringements in the financial services sector. It has been agreed (pursuant to regulation 4 of the Competition Act 1998 (Concurrency) Regulations 2014) that the CMA will exercise those functions in relation to this investigation.
The case is at an early stage and no assumption should be made at this point that competition law has been infringed. The CMA has not reached a view as to whether there is sufficient evidence of an infringement of competition law for it to issue a statement of objections to any of the parties under investigation. Not all cases result in the CMA issuing a statement of objections. Further detail of the CMAs procedures in CA98 cases is available in our guidance.
As a result, it would not be appropriate to include any further estimates of the timing of any later investigative steps at this stage.
Personal data
The CMA may collect, use and share personal data for its investigations, including investigations under the Competition Act 1998. This includes processing personal data for the purposes of the UK General Data Protection Regulation and the Data Protection Act 2018.
You can find more information about how the CMA handles personal information in the CMAs Personal Information Charter.
Contacts
Media enquiries
020 3738 6460, press@cma.gov.uk
Senior Responsible Officer
Michael Grenfell (020 3738 6134, michael.grenfell@cma.gov.uk)
Project Director
Tamara Todorovic (020 3738 6598, tamara.todorovic@cma.gov.uk)
Assistant Project Directors
Andrea Baildon (020 3738 6216, andrea.baildon@cma.gov.uk)
Barbara Lievens (020 3738 6409, barbara.lievens@cma.gov.uk)
Kate Houston (020 3738 6482, kate.houston@cma.gov.uk)