1. UK Financial Services Law
  2. CMA - Competition and Markets Authority
  3. Other Documents
  4. 2017
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  1. Retail banking market investigation - The Retail Banking Market Investigation Order 2017
  2. Explanatory Note
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Explanatory Note

Comparing proposed amendment...
Introduction (paras. 1-4)
Possible consequences of not complying with the Order (paras. 5-7)
Review of the Order (paras. 8-11)
Structure of the Order (paras. 12-13)
Part 1 - General (paras. 14-27)
Part 2 - Open API standards and data sharing (paras. 28-39)
Part 3 - Service quality (paras. 40-62)
Part 4 - Prompts (paras. 63-66)
Part 5 - Transaction History (paras. 67-75)
Part 6 - Automatic enrolment into a programme of alerts (paras. 76-89)
Part 7 - Monthly Maximum Charge (paras. 90-94)
Part 8 - Publication of rates for SME lending products (paras. 95-108)
Part 9 - Tool offering indicative price quotes and eligibility indicator (paras. 109-116)
Part 10 - SME banking comparison tools and Open Up Challenge (paras. 117- 127)
Part 11 - Standardisation of BCA account opening (paras. 128-132)
Part 12 - Monitoring and compliance reporting (para. 133)
Schedule 1 Part A - Agreed Arrangements
Schedule 1 Part B - Agreed Timetable and Project Plan
Schedule 1 Part C - Implementation Trustee
Schedule 2 - Presentation of service quality indicators
Schedule 3 Part A - Standard Information Set including Identification and Verification Requirements
Schedule 3 Part B - Additional Information
Schedule 3 Part C - Governance arrangements
Schedule 4 - Indicative template compliance reporting form
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