FCA launches first review into investment banking competition

The Financial Conduct Authority (FCA) is to launch its first review of competition within investment banking, with a view to conduct a similar market study into asset management later in the year.

This follows the publication of its review into competition in the wholesale sector, which found that limited clarity over price and quality of services may make it difficult for clients to assess whether they are getting value for money. It also found that the bundling and cross selling of services could make it difficult for new entrants or smaller established firms to challenge established large players in the market. Terms of reference for this study will be published in the spring, and will be informed by views from industry, trade bodies and clients. The regulator said feedback rec...