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Report: UK FCA rolls out anti-trust probe

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Report: UK FCA rolls out anti-trust probe

The U.K. Financial Conduct Authority has startedinvestigations into possible anti-competition practices at companies under itssupervision, the Financial Timesreported April 26.

A company in breach of competition laws is likely to face afine of as much as 10% of its worldwide turnover, according to the report.

The FCA could seek entire sectors, such as banking, toundergo an expansive review, potentially ordering the break-up of institutionsas a result, the FT added.