City Firms Must Step Up With New Antitrust Cop On The Beat
By Melissa Lipman (May 17, 2017, 10:48 AM EDT) -- Two years after gaining the power to enforce U.K. competition law, the Financial Conduct Authority is emerging as an antitrust watchdog to be reckoned with for insurers, banks and other regulated firms, as several brokers recently confirmed they were under investigation.
Five firms, including Aon PLC and Marsh Ltd., revealed in late April that their offices had been searched by FCA officials in a civil probe Marsh said focused on the sharing of competitively sensitive information among aviation insurance brokers.
The move marks the FCA's second competition enforcement action since it received the authority in 2015 to pursue antitrust cases along...
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