FCA Director of Competition, Deb Jones, spoke on FCA’s use of its competition powers. She looked at the problems faced when promoting competition without a “race to the bottom” developing where the intention is for better outcomes for consumers. FCA hopes to encourage a “virtuous circle of competition” with active and engaged consumers, confident in regulatory protections, shopping around to achieve these better outcomes and switch to service providers who can offer the best outcomes. FCA hopes this will increase the incentive for firms to treat customers fairly in order to keep them. FCA’s most visible competition work has been in market assessments and it intends to continue with this work in areas of concern. FCA, however, has several enforcement tools, including “on notice” letters for firms which may be infringing competition law. FCA is also taking active steps towards the opening of Competition Act investigation. (Source: FCA considers competition powers)