The UK financial watchdog has launched a sprawling antitrust investigation into the aviation broking sector, raiding several of the largest players as part of a probe into whether they improperly shared confidential client information.
The Financial Conduct Authority launched a series of co-ordinated dawn raids earlier this month, seizing computers and information from Aon, Jardine Lloyd Thompson, Marsh and Willis Towers Watson, according to people familiar with the investigation.
The probe is the first major antitrust investigation launched by the FCA since it inherited competition powers in 2015. Companies now face a fine of as much as 10 per cent of their worldwide turnover if they are found to have breached competition rules.
Full Content: City AM
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
