Financial services firms are facing the
increasing risk of competition enforcement, as the links
between consumer protection and regulation grow stronger.
Regulators are also increasingly focusing on how technology can
be used to reinforce dominance.
The use and importance of big data in the industry, which makes
price personalisation easier, is also said to heighten the risk
of price discrimination. Competition authorities are currently
considering whether this could constitute anti-competitive
"As the economy becomes digitalised, that
throws up competition issues, whether it’s
online sales bans or online resale price maintenance," Michael
Grenfell, executive director for enforcement at the UK
Competition and Markets Authority (CMA), told IFLR. "We have
also been looking at price comparison websites and online
A recent Which super-complaint concerned consumers
deceived by transferring money to a fraudster via a push
payment, and criticised banks for...