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Competition Commission identifies PPI probe areas

The Competition Commission has today published an issues statement as part of its investigation into the market for the supply of payment protection insurance.

The issues statement identifies the specific areas the CC believes are relevant in deciding whether any feature of the PPI market restricts, distorts or prevents competition.

It will be used as the basis to guide collection of evidence including the first round of hearings with interested parties during the period May to July 2007.

This market reference follows a super-complaint from Citizens Advice to the Office of Fair Trading.

The issues include market definition, understanding the retail and wholesale market for PPI including competition between providers, the interation between these markets and the role of intermediaries.

The CC has not yet reached any conclusions on its inquiry into PPI.

The statutory deadline for the inquiry is February 6 2009 but the inquiry group aims to complete its investigation more quickly than that and will publish its next publication in the autumn.

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