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UK: TSB Banking calls on CMA for market probe

 |  October 16, 2014

The head of TSB Banking is calling on the UK’s Competition and Markets Authority to launch a full-scale investigation of the banking industry for small businesses and personal accounts.

Reports say TSB Chairman Will Samuel is hoping the CMA probes the market to introduce methods to increase competition. “We hope that the CMA will push ahead with a full market review focusing on substantive structural reforms as well as behavioral remedies,” he said at a banking conference in London. “What we want to see is effective competition in retail banking.”

But the CMA and the Financial Markets Authority have stepped up oversight of the UK’s banking and financial markets in recent months.

Full content: Reuters

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