PPI issues statement released
The UK's Competition Commission (CC) has today published an issues statement as part of its investigation into the market for the supply of payment protection insurance (PPI) in the UK.
The issues statement identifies the specific questions and areas the CC believes are relevant in deciding whether any feature of the market(s) for PPI products restricts, distorts or prevents competition. It will be used as the basis to guide collection of evidence including the first round of hearings with interested parties during the period May to July 2007.
Although the statutory deadline for the inquiry is 6 February 2009, the inquiry group aims to complete its investigation more quickly than that and expects to publish its next publication the emerging thinking document in the autumn. A full administrative timetable for the investigation is available on the CC website.
Frontier (London) is advising HSBC during the inquiry.
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