These Memorandums of understanding set out working arrangements between the Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA) in relation to their concurrent competition powers and their consumer protection powers in the financial services sector.

On 25 April 2018, paragraphs 48 and 49 of the MoU relating to the CMA’s and FCA’s concurrent competition powers were amended to reflect the changes introduced by the Senior Manager and Certification Regime. This MoU was further amended on 7 August 2019 to reflect the changes introduced by the Financial Guidance and Claims Act 2018, which extended FCA’s concurrent competition powers to include the provision of claims management services in Great Britain.

  1. 7 August 2019 The Memorandums of understanding between the Competition and Markets Authority and the Financial Conduct Authority have been updated.
  2. 13 January 2016 New memorandum of understanding on consumer protection powers added.
  3. 22 December 2015 New memorandum of understanding on competition powers added.
  4. 1 July 2014 First published.

Source: CMA