Navigation path

Policy areas
Who is in charge?
Competition and you
In this section:
- Banking
- Insurance
- Capital markets
What's new?
Sector inquiries

Did you find what
you wanted? 
Yes No
What were you
looking for?
(Leave your email address
if you want a reply)
Any suggestions?

Financial services


Rebuilding the financial services sector for the future

The financial crisis that began in 2007 hit Europe very hard. The European Commission has taken swift action since the beginning of the crisis to overcome it and to create a more transparent and stable financial system. EU competition policy has a central role to play, as the Commission works together with other public authorities to provide legal certainty in the fields of State aid and merger control.

Read more about the Commission's actions and efforts to stabilise our markets, including state aid decisions in the financial sector .

Competition in the financial services sector

The European Commission has the power to apply the competition rules to the financial services sector. This sector includes the banking and insurance markets, which are integral parts of European citizens' lives, and the capital markets. These financial markets are the lifeblood of the real economy, giving businesses and consumers access to financial products. The better and more competitively they function, the better the economy will perform.

The Commission’s competition department works to enhance competition in these markets, and has handled many antitrust, merger, and state aid cases in the financial services sector.

The Commission seeks to use competition policy pro-actively to identify and help tackle barriers in the Single Market, in order to deliver benefits to businesses and consumers The Commission’s sector inquiries into retail banking and business insurance provided significant knowledge of the sector and made a fundamental contribution to the continuing efforts to strengthen competition in financial services.