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U.K.: FSA demands full suite of competition powers

By  |  September 26, 2012
U.K.: FSA demands full suite of competition powers

The incoming Financial Conduct Authority should have a full range of competition powers similar to those available to the Office of Fair Trading at its disposal to help address the ineffectiveness of markets, according to the Financial Services Authority. According to the watchdog, the approach currently put forward in the Financial Services Bill will require the FCA to make a public request to OFT to consider using market investigative reference powers, which it said could lead to a disconnect between powers and expectations.

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