ABSTRACT
This chapter talks about significant measure and academic interest. It focuses on the experience of the US and of Western Europe often held, in accounts diverging from this one, to display amongst the world's more competitive financial sectors and historically on the experience of recent decades, it submits that competition policy has actually done little to prevent or terminate anti-competitive conduct by financial institutions. Recent decades have been remarkable for a lack of discernible, vigorous enforcement of competition policy in the financial sector in the United States (US) and in all major Western European markets. By the mid-1980s, the Chicago School was dominant in the US; however, competition authorities elsewhere typically took longer to embrace the new orthodoxy. One of the key components of post crisis reform of the UK's financial regulatory framework has been the creation, within the Bank of England, of the Financial Policy Committee, with the maintenance of financial stability as its primary objective.
