Competition Law

Given that the Transparency Task Force is a collaborative, campaigning community it is very important that members do not breach competition law.

 

All members must be mindful of any obligations thay may have under the competition laws relating to their juristiction, particularly with regard to competitors sharing non-public commercially sensitive information (such as future pricing information, dealings with intermediaries or business strategy information) which could be prohibited under competition law. 

 

In the UK, the Financial Conduct Authority were involved in preparing a 10 page summary of UK competition law and how this might be relevant to wholesale financial markets (including asset management) as part of the fair and effective markets review.

 

The link below takes you to that summary, well worth reviewing it if you have any doubts about your obligations:

 

http://www.bankofengland.co.uk/markets/Documents/femrjun15.pdf#page=100

 

Note that competition law can also extend beyond the firms that are involved in any information sharing to include those who facilitate such discussions.

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