Exclusive: Nikhil Rathi’s FCA is ready to go on the offensive June 10, 2025 Nikhil Rathi’s first five-year term at the helm of the FCA was dominated by difficult situations – most beyond his control, some firmly in it. But after being reappointed by Rachel Reeves in April, and with the added pressure of a new growth mandate from government, he outlines to Ali Lyon what he hopes his [...]
FRC: We will take an axe to City stewardship code, says boss June 1, 2025 The Financial Reporting Council (FRC) plans to take the axe to a key City code that governs how shareholders should hold companies to account. The UK Stewardship Code was created following the 2008 financial crisis to address fears that shareholders had failed to adequately police risk-taking. Signatories are required to publicly report on their stewardship [...]
Businesses told to watch out as CMA complaints spike ahead of new powers March 26, 2025 Complaints to the Competition and Markets Authority (CMA) have jumped by almost a quarter in the year leading to the watchdog being handed more power. According to research commissioned by law firm Pinsent Masons, concerns raised about competition and consumer law surged by 23 per cent from 4,728 to 5,823 in the year to 30 [...]
Mark Kleinman: CMA revamp to spur boom for M&A bankers March 20, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column. This week, he tackles changes at the CMA, Achilles’ new target, and a logistics funding boost. Will there even be a competition regulator at this rate? After this week’s latest summons to Downing Street for a [...]
The Famous Grouse sale to billionaire’s empire on the rocks January 29, 2025 A deal which saw whisky giant The Famous Grouse sold to one of the UK’s richest men is to be investigated by the Competition and Markets Authority (CMA). Drinks business Edrington sold the brand, which been owned by its 1887 Company, to William Grant & Sons in September last year for an undisclosed sum. William Grant & [...]
Reeves ramps up pressure on regulators in bid for growth January 16, 2025 Chancellor Rachel Reeves and business secretary Jonathan Reynolds are set to meet with a group of watchdogs today as they kickstart plans to cut red tape from the economy and drive growth through regulation. The chiefs of various regulatory agencies, including Competition and Markets Authority, Ofcom and Ofwat, have been summoned to Downing Street. Officials [...]
Vodafone and Three: What £16.5bn merger actually means for customers and prices December 5, 2024 After an almost 18-month battle the UK’s largest ever telecoms deal – which will see Vodafone and Three complete a £16.5bn merger – has been given the green light. Described by Vodafone as a “once-in-a-generation opportunity to transform the UK’s digital infrastructure”, the deal has now satisfied the Competition and Markets Authority (CMA) enough for [...]
Why UK petrol and diesel prices are still sky high despite recent fall November 28, 2024 The price of petrol and diesel in the UK fell between June and October 2024 but the margin retailers are making from each visit to the pump has surged. According to new figures from the Competition and Markets Authority (CMA) fuel prices decreased in the period because, in part, of the changing crude oil prices [...]
Spreadex ordered to sell Sporting Index after ‘creating monopoly’ November 22, 2024 Spreadex has been ordered to sell Sporting Index after it was ruled that the acquisition had created a monopoly. The Competition and Markets Authority (CMA) has told Spreadex to dispose of the ‘business-to-consumer’ firm after it snapped it up from Sporting Group last year. Spreadex and Sporting Index both provide sports fixed odds betting and sports [...]
Higher prices warning issued over Wincanton takeover as GXO handed ultimatum November 1, 2024 The £762m takeover of Wincanton by GXO could lead to higher prices for business customers in the UK, according to the Competition and Markets Authority (CMA). The watchdog has issued its initial findings on the deal which saw the Wiltshire-based business taken over by logistics giant GXO and delist from the London Stock Exchange earlier [...]