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UK: Civility in antitrust probe of banks

 |  March 5, 2015

CMA authorities were met with civility and tea during their recent Bank inspections, Bloomberg reported on Thursday.

Lenders from Barclays to Metro Bank were among those to get visits from CMA officials, reviewing the market for small business loans and checking accounts. The meetings began in January and wrapped up last week Bloomberg reported.

“It’s not a dawn raid, it’s a much more consultative approach,” said Trudy Feaster-Gee, a competition lawyer at law firm Walker Morris said, referring to the surprise inspections used by European Union regulators. “The parties are trying to put forward their best foot.”

It’s useful to have met somebody and had a cup of tea with them,” said Simon Belgard, a spokesman for the CMA.


Full Content: Bloomberg


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