UK’s FCA faces serious challenges in meeting competition objective, survey warns

Martin Wheatley
Martin Wheatley

A minority of firms has confidence that the UK's new Financial Conduct Authority (FCA) will meet its statutory objective to promote competition in financial services, an industry survey has found.

The FCA has three statutory objectives: protecting consumers; promoting the integrity of financial services firms; and encouraging effective competition between firms.

The survey finds that firms are much more confident in the FCA's consumer protection objective than they are about its competition

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