Guidance

Retail Banking Market Investigation Order 2017

The order implements the reforms set out in the Competition and Markets Authority’s (CMA) retail banking market investigation report.

Documents

The Retail Banking Market Investigation Order 2017

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Explanatory note

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Notice of determination of further exceptions to the order

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Notice of determination of further exceptions to the order (October 2017)

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Notice of approval of changes to the agreed timetable and project plan

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Details

This order was made under the market investigation provisions of the Enterprise Act 2002.

The CMA’s retail banking market investigation identified a number of competition problems in both the personal current account (PCA) and small and medium-sized enterprise (SME) banking markets. The order is part of a package of remedies designed to address these problems.

The order sets out the timetable for introducing advances such as open banking, the monthly maximum unarranged overdraft charge, standardised business current account (BCA) opening procedures, and banks having to publish service quality statistics.

Published 2 February 2017