It is amazing how often this notion still is dismissed out of hand.  To many, the thought is simply incredulous:  “Compliance is nothing more than a tick-the-box business:  do the minimum, stay out of trouble and focus on growing your business through all other means.” There is absolutely no benefit to a firm from doing […]

Competition in the £700bn cash savings market often does not work well for consumers, particularly those with long-standing accounts, the Financial Conduct Authority (FCA) has found, as it reveals plans to overhaul how the industry works. The regulator said it should be easier for consumers to compare cash savings accounts and then switch providers – […]

We are consulting on procedural guidance relating to the competition powers we will get on 1 April 2015 and minor amendments to the FCA Handbook. Why are we consulting on this? We have designed our procedures with the aim of using our competition powers effectively and efficiently. This should benefit consumers through detecting, enforcing against […]

Following a market study the FCA has published an interim report on the effectiveness of competition in the cash savings market. The report, which is based primarily on the analysis of easy access accounts and no-term cash ISA accounts, found that since many consumers do not shop around, banks are able to pay lower interest […]