Competition

Recent Articles

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  16/01/2020

  Insurance 2020: Keeping an eye on the competition

  Are insurers’ pricing practices in the best interests of consumers? Consumer interests remains the key driver for regulatory intervention in the retail general insurance market and insurers can expect to be reviewing carefully their consumer pricing policies in 2020. Following the CMA’s investigation of so-called loyalty penalties, the FCA is expected to issue its final report into pricing practices in the retail general insurance market in the first quarter of 2020, after the publication of its interim report in October 2019. The FCA has provisionally found that competition is not...

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  13/01/2020

  Insurance 2020: Year Ahead

  Following the general election promise to ‘get Brexit done’, Brexit will, of course, continue to dominate, driving further corporate reorganisations and movement out of capital-intensive products. Many insurers have already set up operations in Belgium and Luxembourg in preparation for Brexit, and we will be looking at what’s going on in the Belgian and Luxembourg insurance markets. Customer needs will be a big theme again this year, with the FCA continuing work on its ‘TCF package’ looking at pricing and distribution, value for money, intergenerational differences,...

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  07/10/2019

  Pricing practices in the FCA spotlight

  Background The FCA launched this market study in October 2018 with the aim of understanding whether pricing practices in the home and motor insurance sector negatively affect consumer outcomes and competition. It followed a thematic review of the general insurance sector in which the FCA identified a discrepancy between prices paid by new customers and renewing customers who had stayed with a provider for a long time, and it was concerned this might cause consumer harm. Such practices were also the subject of a super-complaint from the Citizens Advice Bureau to the Competition and Market Authority...

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  01/04/2019

  FCA publishes Mortgages Market Study: MS16/2

  The FCA has found that the mortgage market works well in many respects: there is high engagement and consumers are obtaining mortgages that are suitable and affordable. However, the FCA has identified four main areas where it could work better for consumers: Finding the right mortgages; Establishing a wider range of tools providing consumer with a choice about support, including advice; Choosing intermediaries; and Switching freely without undue barriers. Finding the right mortgages The FCA’s research has found that, while consumers usually find a mortgage that is suitable and affordable,...

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  11/04/2018

  Securitisation Regulation: 60 minutes to understand the new rules and issues

  CMS cordially invite you to attend a webinar: 11 April 2018 | 10:00 UK/ 11:00 CET Securitisation Regulation: 60 minutes to understand the new rules and issues This webinar will last one hour (including a Q&A session) and will provide an update on new EU regulations regarding securitisation. Four expert speakers from the UK, France and Spain will cover the areas you need to be aware of. Agenda: Scope of the new regulations (STS and CRR treatment) New rules applicable to any EU securitisation STS CRR/other directive changes REGISTER NOW

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  08/01/2018

  FCA seeks views on approach to authorisation and competition

  In the Approach to Authorisation document, the FCA explains the purpose of and its approach to authorisation. The FCA sees authorisation as a tool, primarily to prevent harm from occurring by ensuring all regulated firms and individuals meet certain minimum standards but also to improve conduct and culture while promoting competition and innovation. The FCA says it recognises the challenges start-ups may face in meeting some of the conditions necessary for authorisation. It will look to support newly-established and innovative firms, for example, by providing support during pre-authorisation,...

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