Christopher Woolard, Director of Policy, Risk and Research at FCA, has spoken on FCA's approach to its new competition objective. FCA actions to promote competition include streamlining the authorisation process for new competitors, reviewing the Handbook for unintended effects on competition and carrying out market studies. The latter include studies on insurance add-ons, SME banking, the cash savings market, annuities and, from next spring, the wholesale markets. The studies into retail markets will use behavioural economics to understand how consumers actually buy products and improve consumer outcomes. (Source: Competition and Conduct Regulation in Financial Services)