Google being "monitored" by FCA - report

clock

Technology giant's price comparison service being watched as part of wider review.

Software giant Google is being watched by the Financial Conduct Authority (FCA), according to a report in The Telegraph.

The newspaper claimed that Google had come under the spotlight during the regulator's thematic review into price comparison sites.

The report noted that there were "fears the search giant is using anti-competitive behaviour against rivals in the sector".

Google bought Beatthatquote.com for £38m in March 2011 and the FCA first announced its thematic review into aggregators in November last year.

Speaking at the time of the launch of the review, FCA director of supervision, Clive Adamson, said: "We've all used a price comparison website so we know how simple they make buying motor, travel or home insurance. We don't want to lose that convenience, but we do need to ask the question, 'does cheapest equal best?'

"We want to get to a place where consumers that use these sites buy with the confidence knowing that they have all the relevant facts."

Both the FCA and Google declined to comment for The Telegraph's article.

More on Regulation

CII to reduce headcount by eight to 'deliver better outcomes'

CII to reduce headcount by eight to 'deliver better outcomes'

Forming plans to streamline processes and services

Isabel Baxter
clock 26 March 2024 • 1 min read
BIBA names Julie Comer as head of compliance

BIBA names Julie Comer as head of compliance

Helping members with compliance queries and concerns

Jaskeet Briah
clock 20 March 2024 • 1 min read
FCA unveils measures for more transparent enforcement cases

FCA unveils measures for more transparent enforcement cases

Consultation process initiated

Sahar Nazir
clock 27 February 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read