Tagged: competition and markets authority

TechUK Responds to Competition and Market Authority’s Consultation on Open Banking

The UK has reached a key stage for the ongoing development of Open Data initiatives.  The Open Banking Implementation Entity (OBIE) is now nearing the completion of creating Open Banking guidelines and the Competition and Markets Authority (CMA) has finalized a consultation on the updated… Read More

Seedrs Founder: Competition and Markets Authority is Stifling Government’s Ambitions for Robust Tech Sector

Coming off the revelation that the UK Competition and Markets Authority (CMA) was not inclined to approve the merger between Seedrs and Crowdcube, Seedrs co-founder and Chairman Jeff Lynn was recently interviewed by the FT. Speaking with the broadsheet, Lynn “warned that the UK competition… Read More

Seedrs Reports Big Investment Day, Throws Shade at CMA’s Decision to Block Merger with Crowdcube

In a Tweet last Friday, Seedrs reported a big investment day for the platform where Passion Capital raised “over £2 million” in a couple of hours and MacRebur raised £1.6 million on Thursday. Seedrs said the first quarter of 2021 had been great. The comments… Read More

CMA Acknowledges Abandonment of Crowdcube-Seedrs Merger

The UK Competition and Markets Authority (CMA) has publicly acknowledged the decision by Crowdcube and Seedrs to abandon the proposed merger of the two venture financing platforms. This past week, the CMA announced it had provisionally decided not to allow the merger to be consecrated…. Read More

Terminated: Merger Between Seedrs and Crowdcube is Cancelled; Seedrs Announces New Funding

Yesterday it was reported that the UK Competition and Markets Authority (CMA) had provisionally decided to not allow the merger between Seedrs and Crowdcube. The two securities crowdfunding platforms combined were seen as dominating online capital formation for early-stage ventures to the point it would… Read More

UK Competition and Markets Authority Not Inclined to Approve Seedrs-Crowdcube Merger

The UK Competition and Markets Authority (CMA) has announced its provisional finding indicating it is not inclined to approve the merger between Seedrs and Crowdcube. In its decision, the CMA said the combined company would control at least 90% of the UK crowdfunding market thus… Read More

Crowdcube and Seedrs Explain Competitive Reality to CMA in Quest to Complete Merger

Crowdcube and Seedrs are in the midst of a review by the Competition and Markets Authority (CMA) regarding the proposed merger between the two early-stage funding platforms. The proposed merger was revealed in October of 2020. At that time, Seedrs CEO Jeff Kelinsky stated: “We… Read More

UK Competition and Markets Authority Agrees to Fast Track Seedrs Crowdcube Merger

  The UK Competition and Markets Authority (CMA) has agreed to fast track the merger of Seedrs and Crowdcube – the two largest investment crowdfunding platforms based in the UK. The merging companies requested the fast track of the review to a Phase 2 stage… Read More

Crowdcube & Seedrs Request Fast Track Process from CMA on Merger

Earlier this month, the two leading investment crowdfunding platforms in the UK, Crowdcube and Seedrs, announced a proposed merger that would create the dominant online capital formation platform in the UK. Between the two firms, a merger would create not only the top platform in… Read More

Competition and Markets Authority Approves Amazon’s Investment in Deliveroo as COVID-19 Harms Company’s Financial Position [u]

This is interesting because it is indicative of the economic impact of the COVID-19 pandemic. The UK Competition and Markets Authority (CMA) has provisionally approved Amazon’s (NASDAQ:AMZN) investment in Deliveroo. Before the Coronavirus, the investment was not a given as the CMA was “concerned that… Read More

CMA Says Bottomline’s purchase of Experian Payments Gateway Does Not Raise Competition Concerns

The Competition and Markets Authority (CMA) has issued a statement on Bottomline Technology’s purchase of the Experian Payments Gateway (EPG) business from Experian Limited. The purchased platform allows customers of Bottomline and EPG to make payments via the Bacs and Faster Payments Direct Corporate Access systems…. Read More

Competition and Markets Authority Clears PayPal’s Purchase of iZettle

The UK Competition and Markets Authority (CMA) has cleared the acquisition by PayPal of competitor iZettle. In April, the CMA provisionally found the deal should be cleared. After an initial investigation (Phase 1), CMA raised concerns regarding competition reduction if the acquisition went through. The… Read More

Competition and Markets Authority to Launch “In-Depth” Investigation into PayPal Acquisition of iZettle

The Competition and Markets Authority (CMA) has decided to launch an in-depth investigation into the acquisition of Sweden based iZettle by PayPal. As CI previously reported, the CMA stated that PayPal could face insufficient competition in the UK after acquiring its market-leading rival iZettle. PayPal… Read More

UK Competition and Markets Authority Questions PayPal Acquisition of iZettle

The UK Competition and Markets Authority (CMA) has issued a statement on the PayPal acquisition of iZettle – an event that was announced in early 2018 and closed in September. PayPal purchased Sweden based iZettle for $2.2 billion as the company seeks to gain access… Read More

UK Competition and Markets Authority Tells Banks to Work Harder for their Customers, Demands Change

The Competition and Markets Authority (CMA), in conjunction with the Financial Conduct Authority (FCA), have demanded that traditional banks improve their services. The admonition comes following an independent survey of both personal and small business accounts that indicates banks are falling short when it comes… Read More

Nesta: Global Open Up Challenge Offers £2.5 Million Prize Fund to Support Fintech for Small Business

UK based Innovation Foundation Nesta has opened applications for the Open Up Challenge, a £2.5 million prize fund backing next-generation Fintech for small businesses. This is a global competition and Nesta encourages aspiring Fintech companies from around the world to apply. Both start-ups and established… Read More

Final Report by CMA on Retail Banking Requires Banks to Implement Open Banking by 2018

“CMA Sticks to its Guns” The Competition and Markets Authority (CMA) has published its final report on the UK retail banking sector. The government initiative has concluded that highstreet banks do not compete enough for customers’ business. Simultaneously, challenger banks find it difficult to compete… Read More

UK Competition & Markets Authority Publishes Investigation into Retail Banking

The UK Competition and Markets Authority (CMA) has published its anticipated report on the retail banking sector. The document, entitled, “Retail Banking Market Investigation: Provisional Decision on Remedies,” is a 405 page document delivering a deep dive into the challenges of traditional banks. The CMA outlines… Read More

UK CMA Publishes Report on Banking Services for Consumers and SMEs: “For too long banks have been able to sit back and take their existing customers for granted”

The Competition and Markets Authority (CMA) has published its anticipated report on the state of retail banking in the UK.  Unlike the US market, the UK banking industry is almost completely served by several very large banks (RBS, Barclays, HSBC, Lloyds & Santander).  These are… Read More

FCA: Banking Sector Does Not Meet Needs of Small Business

The Financial Conduct Authority (FCA), the UK regulatory body entrusted with the operations of the securities industry, has released a statement declaring the retail banking industry “does not meet the needs of personal consumers or small and medium enterprises (SMEs)”. It should be noted that… Read More

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