On 19 February 2015, the Financial Conduct Authority (FCA) announced that it intends to launch a market study on investment banking and corporate banking services in Spring 2015. The announcement follows its call for inputs in July 2014 when the FCA launched a review of competition in the wholesale sector to gather views on areas that might benefit from further investigation through an in-depth market study. The feedback from the FCA's review suggested that competition is not working effectively in this sector. In particular, feedback suggested that there is limited transparency over both price and quality of services which may make it difficult for clients to assess value for money. Additionally, the FCA found that the bundling and cross-selling of services may make it difficult for new entrants to compete, and may contribute to low levels of transparency. The FCA will publish further information, including its terms of reference, and will contact relevant firms in due course. On 1 April 2015, the FCA will gain competition concurrency powers that will allow it to enforce against breaches of the Competition Act and to refer markets to the Competition and Markets Authority for in-depth investigation. Click here to read the FCA's feedback statement andhere to read its press release.