On 22 May, the FCA launched its investment and corporate banking study by publishing its terms of reference which set out the scope of its review. The key areas being reviewed are competition issues concerning:

  • the choice of banks and advisers for clients
  • limited transparency in the provision of services
  • practices of bundling and cross-subsidisation of services.

The FCA will examine these issues by focusing on primary market and related activities provided in the UK. For further background on the study and to review the terms of reference, click here. If you wish to comment on any of the topics raised in the terms of reference, comments should be submitted to the FCA by 22 June. The FCA will also be hosting roundtable sessions with various stakeholders in order to gather the relevant data. The FCA expects to publish its interim report by the end of the year and its final report in Spring 2016.