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UK: Lloyds blasts competition regulator’s research as ‘wholly unreliable’ and ‘profoundly unsuitable’

By  |  March 21, 2016

Lloyds Banking Group has launched a strongly worded attack on the Competition and Markets Authority’s investigation into the banking sector, warning that some key parts of evidence used in the probe are “wholly unreliable” and “profoundly unsuitable.”

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    The company, one of the big four banks that dominate Britain’s retail banking market, claimed that the surveys and focus groups being used to assess planned reforms to the industry “do not provide robust evidence for the CMA’s investigation”.

    “Lloyds would be very concerned if the CMA were to use the wholly unreliable findings from these pieces to draw any conclusions,” the bank said.

    “The qualitative research is profoundly unsuitable for use as evidence to support any conclusion on the CMA’s proposed remedies.

    Full content: The Telegraph

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