On 1 April 2015, the FCA obtained new competition powers, thereby joining other global regulators that also have competition powers. Set out below are thoughts from Allen & Overy’s market leading investigations and anti-trust teams on competition issues in financial services investigations.

The FCA’s Business Plan 2017/2018: Key themes

Samantha Holland

Earlier this week, on 18 April 2017, the UK Financial Conduct Authority (the FCA) published its Business Plan for 2017/2018 setting out the FCA’s activities and priorities for the coming year. At the same time the FCA published its Mission (see our previous blog post on the FCA’s consultation on its Mission here) and, for Read More

No Comments

Now published: Allen & Overy’s global cartel enforcement mid-year report for 2016

John Terzaken

Global cartel fines are significantly behind where they were this time last year, despite a strong performance by enforcers in Asia Pacific. Fines imposed for the first half of 2016 total just USD1.1 billion as compared to the USD3.17bn in fines imposed last year at the half-year mark. The slumping mid-year statistics are attributable to Read More

No Comments

The FCA’s competition powers: One year on

Emily Bourne

Today marks the first anniversary of the FCA’s competition powers, which the FCA obtained on 1 April 2015. On the run-up to this anniversary, Deb Jones, Director of Competition at the FCA, delivered a speech at The Impact of Competition Powers on Financial Services Conference. A few points of interest can be gleaned from what Read More

No Comments

New UK class action regime: what do you need to know?

Andrew Lee

New class action procedures will come into force in just four days’ time on 1 October. These will make the UK a more attractive forum for potential claimants and are likely to lead to an increase in the number of class actions being brought. Indeed, recent statements in the press by lawyers acting for plaintiffs Read More

No Comments

FCA Principle 11 – a controversial approach to competition law breaches?

Peter Harper

One of the most controversial aspects of the FCA’s new competition concurrency powers so far as investigations are concerned is the approach to Principle 11 of the FCA’s Principles for Businesses (which requires firms to ‘deal with its regulators in an open and co-operative way, and… disclose to the appropriately regulator appropriately anything relating to Read More

No Comments