Competition and Markets Authority (CMA)

24 results about this entity

Period: 28 Jul 2021 - 25 Jul 2024

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Major UK banks broke CMA rules

/regulation

Major UK banks broke CMA rules

HSBC, Lloyds, TSB, and AIB have been rebuked by the UK's competition watchdog for failing to meet rules on providing customers with clear and up-to-date information.

CMA investigates Virgin Money's merger with Nationwide

/retail

CMA investigates Virgin Money's merger with Nationwide

The UK's Competition and Markets Authority (CMA) has announced it is considering investigating Nationwide's merger with Virgin Money.

CMA outlines competition concerns with AI Foundation Models

/markets

CMA outlines competition concerns with AI Foundation Models

The Competition and Markets Authority (CMA) has identified key risks to fair competition in AI Foundation Models (FMs), growing concerns as AI rapidly develops in the financial industry.

Monzo beats all comers in CMA customer satisfaction survey

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Monzo beats all comers in CMA customer satisfaction survey

The Competition and Markets Authority has ranked Monzo as the UK's best bank for personal and business accounts.

HSBC, TSB and Nationwide upbraided by CMA over transaction history reporting

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HSBC, TSB and Nationwide upbraided by CMA over transaction history reporting

The Competition and Markets Authority has castigated HSBC, Nationwide and TSB for "significant failures" in transaction history reporting for personal and business customers switching banks.

/regulation

CMA charges five banks with bond price rigging

The Competition and Markets Authority (CMA) has provisionally found that 5 major banks – Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada – each unlawfully shared competitively sensitive information by participating in one or more series of one-to-one conversations in chatrooms.

/retail

CMA opens review into artifical intelligence market

The CMA is opening an initial review of competition and consumer protection considerations in the development and use of AI foundation models.

Google to offer app store payment options after antitrust probe

/regulation

Google to offer app store payment options after antitrust probe

Google has moved to placate UK regulators by offering app developers the freedom to break away from Google Play’s billing system and use alternatives to process in-app payments.

HSBC gets warning for open banking failures

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HSBC gets warning for open banking failures

HSBC has once again fallen foul of the UK's Competition and Markets Authority (CMA) for publishing inaccurate information through its Open Data APIs.

UK updates on new Open Banking entity

/retail

UK updates on new Open Banking entity

UK authorities have published an update on plans for a successor to the Open Banking Implementation Entity (OBIE).

UK communications watchdog launches cloud competition probe

/cloud

UK communications watchdog launches cloud competition probe

Ofcom has announced its probe into cloud service providers Amazon, Microsoft and Google. The investigation will look into these providers, which generate around 81% of revenues in UK public cloud, to ensure the market is working properly and not limiting innovation or growth.

NatWest to refund £600,000 to business customers in CMA crackdown on 'bundling'

/regulation

NatWest to refund £600,000 to business customers in CMA crackdown on 'bundling'

NatWest is set to refund hundreds of business customers after it wrongfully forced them to open current accounts to secure a loan.

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