F1PART 1AThe Regulators
CHAPTER 1The Financial Conduct Authority
The FCA's general duties
1EThe competition objective
(1)
The competition objective is: promoting effective competition in the interests of consumers in the markets for—
(a)
regulated financial services, or
(b)
services provided by a recognised investment exchange in carrying on regulated activities in respect of which it is by virtue of section 285(2) exempt from the general prohibition.
(2)
The matters to which the FCA may have regard in considering the effectiveness of competition in the market for any services mentioned in subsection (1) include—
(a)
the needs of different consumers who use or may use those services, including their need for information that enables them to make informed choices,
(b)
the ease with which consumers who may wish to use those services, including consumers in areas affected by social or economic deprivation, can access them,
(c)
the ease with which consumers who obtain those services can change the person from whom they obtain them,
(d)
the ease with which new entrants can enter the market, and
(e)
how far competition is encouraging innovation.