A PYMNTS Company

UK: Financial watchdog uses new powers in wholesale market review

By  |  November 20, 2013

The UK’s Financial Conduct Authority said it plans to launch an inquiry into the wholesale financial markets to test whether they are competitive, simultaneously announcing plans to revise how its supervises the markets following the LIBOR rate rigging scandal.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reports say the FCA, which began operations earlier this year, will put its new competition powers to use in how it supervises the markets used by financial bodies including banks, fund managers and exchanges. David Lawton, director of markets at the FCA, said Tuesday that the market inquiry “will be na important step forward in using the competition objective to bring about better outcomes for consumers and market integrity in the wholesale markets.”

    Full Content: Euronews

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.