Competition and Markets Authority (CMA)

News/people

OBIE chief resigns following bullying investigation

The chair of the UK's Open Banking Implementation Entity has quit after an independent investigation found that leadership failures at the OBIE "allowed a culture of bullying and intimidation".

01 October 2021

News/payments

CMA mandates ‘Sweeping’ in big win for UK Open Banking

The Competition and Markets Authority (CMA) has ruled in favour of the Open Banking Implementation Entity’s (OBIE) recommendation to mandate Variable Recurring Payments (VRPs) as the mechanism for implementing Sweeping, injecting a further element of competition into the Open Banking market and ending years of opposition from some of the UK's biggest banks.

28 July 2021