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Competition investigation - PCAs and SME banking

On 6 November 2014, the Competition and Markets Authority announced its decision to make a Market Investigation Reference (MIR) regarding the provision of retail banking services to small and medium-sized enterprises and the provision of personal current accounts.

The purpose of the MIR, which will involve an in-depth review of these sectors over the next 18 months, is to establish whether certain market features are harming competition (termed having an 'adverse effect on competition' or AEC) and, if so, what can be done to remedy them.

This publication looks at the issues that are causing competition concerns, whether the concerns are valid and what happens next.

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