Guidance

Retail Banking Market Investigation Order 2017

The order implements the reforms set out in the Competition and Markets Authority’s (CMA) retail banking market investigation report.

Documents

The Retail Banking Market Investigation Order 2017

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Explanatory note

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Notice of determination of further exceptions to the order

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Notice of approval of changes to the agreed timetable and project plan (November 2017)

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Notice of determination of further exceptions to the order (October 2017)

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Details

This order was made under the market investigation provisions of the Enterprise Act 2002.

The CMA’s retail banking market investigation identified a number of competition problems in both the personal current account (PCA) and small and medium-sized enterprise (SME) banking markets. The order is part of a package of remedies designed to address these problems.

The order sets out the timetable for introducing advances such as open banking, the monthly maximum unarranged overdraft charge, standardised business current account (BCA) opening procedures, and banks having to publish service quality statistics.

Updates to this page

Published 2 February 2017
Last updated 15 May 2020 + show all updates
  1. Notice of approval of changes to the agreed timetable and project plan published.

  2. Notice of approval of certain changes and requirement for additional changes to the Agreed Timetable and Project Plan published.

  3. Notice of determination of further exception to the order (December 2019) published.

  4. First published.

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