FG15/8 - FCA's powers and procedures under the Competition Act 1998

In July 2015 we published our guidance in relation to our concurrent competition powers to enforce against breaches of competition law, in particular setting out our powers and procedures under the Competition Act 1998.

FG15/8 [PDF]

Our consultation on our final guidance closed in March 2015. We published a Policy Statement summarising the feedback and setting out our responses.

Addendum

In April 2018 we updated the guidance:

  1. to make clear that all leniency applications shall be made to the Competition and Market’s Authority (CMA) (see paragraph 6.3), following the CMA's information note setting out arrangements for the handling of leniency applications between the CMA and sector regulators
  2. to clarify that firms’ duty to deal with us in an open and cooperative way, disclosing appropriately any information of which we would reasonably expect notice, applies to senior managers too, following the introduction of the Senior Managers and Certification Regime (see paragraphs 6.4 and 6.7). We also added that we believe that anti-competitive behaviour may call into question the fitness and integrity of individuals working in authorised firms (see paragraph 2.20)
  3. describing our practice of issuing advisory and on notice letters when there may be a potential infringement of competition law but we decide not to open an investigation on prioritisation grounds (see paragraphs 3.11 to 3.13)
  4. to add that complaints to us can also be made online (see paragraph 3.4)