Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022.
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Aug 31 (Reuters) - Britain's financial watchdog has stopped short of referring parts of the financial data market to the competition authority for now despite concerns over the power of large companies, it said on Thursday.
The Financial Conduct Authority (FCA) said in March that competition in some parts of the wholesale financial data market is not working as well as it should, a sector which includes information on stock prices used by investors.
It also launched a study to investigate if markets for benchmarks, credit ratings data and market data vendor services are working well, setting a Sept. 1 deadline to decide whether to refer any of the three market sectors to the Competition and Markets Authority (CMA).
The update report highlights emerging issues in these markets, including concerns about the market power of large and established companies, which can reduce competition.
Persons:
Toby Melville, Huw Jones, David Goodman
Organizations:
FCA, Financial, Authority, REUTERS, Financial Conduct Authority, Competition, Markets Authority, Thomson
Locations:
London, Britain