European Commission launches sector inquiry into retail banking

The European Commission is to investigate the provision of retail banking across the 25 Member States to identify any regulatory barriers or anti-competitive behaviour that may be limiting competition. The aim of the sector inquiry is not to make an in-depth exploration of competitive conditions in each country; rather the Commission will explore whether and where there are grounds to launch more detailed investigations under European Competition law or, alternatively, to suggest that national regulatory authorities take action. Details of the latest developments in the inquiry can be found at the European Commission's website. Frontier (London) is advising HSBC in relation to this inquiry.