OFT updates on SME banking study: OFT has updated on its market study into banking services for small and medium-sized enterprises (SME). It also confirmed the Competition and Markets Authority (CMA) will complete the study as part of a wider examination of competition in retail banking. OFT has noted concerns that the market is concentrated on a small number of banks, and that SMEs find it hard to differentiate between providers. It is also worried about barriers to entering the market. While its study is not complete, it is investigating further allegations that banks are hindering SMEs from seeking alternative finance by, for example, delaying the waiving of security or the release of documentation. It has also noted some banks may not be complying with undertakings they gave the Competition Commission some years ago that they would not require SMEs taking out business loans also to open current accounts. (Source: OFT Updates on SME Banking Study)