Phil Deeks: Three ways the FCA's competition agenda can work for your business

The virtuous circle of competition

clock • 3 min read

Phil Deeks considers three fundamental areas financial advice firms should be focusing on to ensure they are on the front foot for embracing the FCA's increasing focus on competition

Effective competition is beneficial for all market participants - industry and consumers alike. It should therefore come as no surprise that this is a core focus for the Financial Conduct Authority (FCA) in achieving all three of its statutory objectives - protecting consumers, ensuring market integrity and promoting effective competition. Although the FCA's concurrent competition powers that it has the authority to enforce the prohibitions under UK and European Union competition law where it did not before - such as pricing - firms should not view it as just another regulatory hurdle to...

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