The CMA and FCA. What do we think of it so far?

Lee Callaghan, General Counsel International Markets. Group Competition Counsel, Aviva Plc, UK

In any assessment of how these two new regulators are performing, it's necessary to consider why the Government bothered to reform the system at all and what was it trying to achieve. If a system is designed for a particular purpose, it’s always good to consider what that purpose is if you are also looking at how effective the changes have been and what they were trying to achieve. To demonstrate this it’s a good opportunity to quote a sketch from the famous Morecombe and Wise TV show in the late 1970’s when a Police emergency services siren is heard in the background in the studio (and which in those days was a two tone horn sound blaring loudly). Eric suddenly turns to Ernie and says; “They won’t sell many ice creams going that fast”!

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United Kingdom Competition Insurance March 2015 Vol. 8, No. 30, Winter 2015

Lee Callaghan

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Lee is the General Counsel at Aviva plc for their international markets in Europe and Asia. He has over 25 years of legal experience in industry, having worked in the UK motor industry, chemical industry and for the last 13 years at Aviva. He is also the

Aviva Plc

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Aviva PLC is a leading UK based insurer with an international presence in Canada, Asia and Europe as well as a leading presence in the UK market in both life and general insurance as well as pensions, asset management and protection products.

United Kingdom Competition Insurance March 2015 Vol. 8, No. 30, Winter 2015