FCA launches market study on wholesale data and considers reference to the CMA

Article summary

The Financial Conduct Authority (FCA) has published a report which finds that competition in some parts of the wholesale data market is not working as well as it should, and launched market study MS23/1: Wholesale data market study: benchmarks, credit ratings data and market data vendors. The FCA is seeking views on the issues set out in the terms of reference and whether the regulator should make a market investigation reference to the Competition and Markets Authority (CMA) about one or more of these markets. Responses are sought by 30 March 2023. The FCA states that in accordance with the statutory milestones set out under the Enterprise Act, it will make a provisional decision on whether to make a market investigation reference to the CMA about one or more of the markets covered by MS23/1, or parts of them, by 1 September 2023. It will publish its market study report by 1...