Loan products to professional service firms: investigation into anti-competitive practices

Office of Fair Trading (OFT) closed Competition Act 1998 case.

Case reference: CE/8950/08

Summary of work

The OFT has completed its investigation into the provision of loan products to professional services firms.

On 20 January 2011 the OFT issued a decision that Royal Bank of Scotland (RBS) and Barclays engaged in anti-competitive practices in breach of the Chapter I prohibition of the Competition Act 1998 and/or Article 101 of the TFEU in relation to the pricing of loan products to large professional services firms. The OFT has imposed a fine of £28.59 million on RBS. Barclays brought the matter to the OFT's attention and, under the OFT's leniency policy, has not been fined.

Published 20 January 2011