PART 1A

The Regulators
CHAPTER 1

The Financial Conduct Authority

The FCA's general duties

The competition objective
1E
1
The competition objective is: promoting effective competition in the interests of consumers in the markets for—
a
regulated financial services, or
b
services provided by a recognised investment exchange in carrying on regulated activities in respect of which it is by virtue of section 285(2) exempt from the general prohibition.
2
The matters to which the FCA may have regard in considering the effectiveness of competition in the market for any services mentioned in subsection (1) include—
a
the needs of different consumers who use or may use those services, including their need for information that enables them to make informed choices,
b
the ease with which consumers who may wish to use those services, including consumers in areas affected by social or economic deprivation, can access them,
c
the ease with which consumers who obtain those services can change the person from whom they obtain them,
d
the ease with which new entrants can enter the market, and
e
how far competition is encouraging innovation.
Pt. 1A substituted for Pt. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 6(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.