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