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8/21/14 - FCA Leaning on Behavioural Economics in Competition Reviews

Martin Wheatley, the chief executive of the U.K. Financial Conduct Authority, has observed that the FCA’s mandate to promote effective competition is “the single most significant change in our objectives as a regulator.” How the FCA will carry out this objective in pursuing consumer protection and market integrity is only beginning to emerge, but it is clear that findings drawn from behavioural economics will inform its views.

Starting in April 2015, the FCA will enforce competition law alongside the new Competition and Markets Authority, giving it parity with competition regulators in other U.K. markets and a significant role in EU-level competition policy and enforcement. Please click below to read a Sightlines InFocus by Stuart King and Sam Tymms that discusses the FCA’s use of behavioural economics and the implications for the firms it regulates.