Competition Commission far from making up its mind on PPI

The Competition Commission (CC) has today published a consultation document inviting views on its current thinking on the nature of competition in the payment protection insurance (PPI) business in the UK.
 
Peter Davis, CC Deputy Chairman said: "After examining a substantial amount of evidence, we think there are some areas that we need to explore further. We are far from making up our minds, but we are focussing on the amount of competition for PPI that distributors face at the retail level."
 
Mr Davis said that the CC hadn't found reasons to be concerned about competition between PPI underwriters or vertically-integrated companies (which underwrite and distribute PPI) distorting competition.  The CC aims to conclude its work as speedily as possible.
 
Frontier (London) advises HSBC group, which includes First Direct, M&S Money, and HFC Bank.