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.
28 September 2015 - 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
22 July 2015 - 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
22 July 2015 - Joanna Hughes
Dawn raids by regulators have always existed. However, there is now potential for them to become more common. More regulators have dawn raid powers and there are more legal bases for their use. We have seen increased interest recently from clients in dawn raids; asking for copies of our Dawn Raid Manual and bespoke training. › Read More